Corning (NYSE:GLW) Trading Down 1.9% – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) dropped 1.9% during trading on Wednesday . The stock traded as low as $143.34 and last traded at $144.82. Approximately 12,635,193 shares were traded during mid-day trading, an increase of 20% from the average daily volume of 10,542,886 shares. The stock had previously closed at $147.57.

Analysts Set New Price Targets

Several research analysts recently weighed in on GLW shares. JPMorgan Chase & Co. boosted their target price on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a research note on Wednesday, January 28th. Mizuho set a $145.00 price objective on shares of Corning in a research report on Monday, February 23rd. Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Finally, Fox Advisors downgraded Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Corning Trading Down 8.6%

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The business’s fifty day moving average is $112.83 and its 200-day moving average is $92.40. The stock has a market capitalization of $105.71 billion, a PE ratio of 66.96, a P/E/G ratio of 2.51 and a beta of 1.05.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter last year, the business earned $0.57 EPS. Corning’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is 60.87%.

Insider Buying and Selling

In other Corning news, SVP Li Fang sold 9,797 shares of Corning stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. The trade was a 81.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 233,201 shares of company stock worth $32,614,558. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Corning

A number of institutional investors have recently added to or reduced their stakes in the business. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC acquired a new stake in Corning in the third quarter valued at approximately $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Corning in the fourth quarter valued at approximately $27,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Company Profile

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.