Corning (NYSE:GLW) Stock Price Up 10.8% After Dividend Announcement

Corning Incorporated (NYSE:GLW)’s share price was up 10.8% during trading on Thursday after the company announced a dividend. The stock traded as high as $230.50 and last traded at $228.14. 25,168,610 shares were traded during mid-day trading, an increase of 102% from the average daily volume of 12,436,690 shares. The stock had previously closed at $205.83.

The newly announced dividend which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is 53.59%.

Wall Street Analyst Weigh In

Several research firms have commented on GLW. JPMorgan Chase & Co. lifted their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer increased their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Truist Financial raised their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Performance

The stock’s fifty day simple moving average is $182.50 and its two-hundred day simple moving average is $140.14. The company has a market cap of $196.35 billion, a price-to-earnings ratio of 109.16, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Insider Buying and Selling

In other news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Large investors have recently made changes to their positions in the business. Capital Research Global Investors purchased a new stake in Corning during the 3rd quarter worth $907,164,000. Norges Bank purchased a new position in Corning in the fourth quarter valued at about $921,435,000. Wellington Management Group LLP raised its position in Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in shares of Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.