Corning (NYSE:GLW) EVP Lewis Steverson Sells 13,100 Shares

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Corning Price Performance

Shares of NYSE:GLW traded down $0.23 during trading on Monday, reaching $148.75. The stock had a trading volume of 9,230,322 shares, compared to its average volume of 12,680,841. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The stock has a market cap of $128.13 billion, a PE ratio of 67.92, a PEG ratio of 1.91 and a beta of 1.14. The business has a fifty day moving average price of $171.18 and a 200-day moving average price of $164.84.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm posted $0.60 EPS. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. UBS Group restated a “buy” rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Bank of America increased their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Citigroup lowered their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Finally, Mizuho dropped their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Security National Bank lifted its holdings in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares during the period. Herbst Group LLC acquired a new stake in shares of Corning in the 2nd quarter worth $4,474,000. Principal Financial Group Inc. boosted its holdings in shares of Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after acquiring an additional 24,589 shares during the period. Finally, Atlas Wealth LLC raised its holdings in Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

About Corning

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.