Corning (NYSE:GLW) Stock Price Down 1.8% – What’s Next?

Shares of Corning Incorporated (NYSE:GLW) dropped 1.8% on Thursday. The company traded as low as $132.75 and last traded at $138.3150. 11,241,824 shares traded hands during mid-day trading, a decline of 6% from the average daily volume of 11,980,758 shares. The stock had previously closed at $140.89.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on GLW. Sanford C. Bernstein assumed coverage on Corning in a report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price target for the company. Truist Financial lifted their price objective on Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Citigroup reduced their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research report on Tuesday, September 8th. Finally, Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Price Performance

The company’s 50-day moving average is $155.24 and its 200-day moving average is $168.91. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market capitalization of $119.14 billion, a price-to-earnings ratio of 63.16, a PEG ratio of 1.89 and a beta of 1.13.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. Corning’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning Incorporated will post 3.28 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is currently 51.14%.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Corning by 92.4% in the third quarter. Assenagon Asset Management S.A. now owns 1,184,005 shares of the electronics maker’s stock valued at $182,053,000 after buying an additional 568,653 shares during the period. RDA Financial Network grew its stake in Corning by 15.2% during the third quarter. RDA Financial Network now owns 2,191 shares of the electronics maker’s stock worth $337,000 after buying an additional 289 shares during the period. Turtle Creek Wealth Advisors LLC increased its position in shares of Corning by 6.0% in the third quarter. Turtle Creek Wealth Advisors LLC now owns 3,627 shares of the electronics maker’s stock worth $558,000 after acquiring an additional 205 shares in the last quarter. WealthPlan Investment Management LLC raised its stake in shares of Corning by 22.1% in the 3rd quarter. WealthPlan Investment Management LLC now owns 1,432 shares of the electronics maker’s stock valued at $220,000 after acquiring an additional 259 shares during the period. Finally, C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors raised its stake in shares of Corning by 11.8% in the 3rd quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors now owns 2,062 shares of the electronics maker’s stock valued at $317,000 after acquiring an additional 218 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.