Corning (NYSE:GLW) Hits New 12-Month High – What’s Next?

Corning Incorporated (NYSE:GLW)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $94.40 and last traded at $95.0180, with a volume of 5762501 shares trading hands. The stock had previously closed at $91.11.

Analysts Set New Price Targets

Several equities analysts recently issued reports on GLW shares. Oppenheimer set a $100.00 price objective on Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Susquehanna upped their price target on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Monday. Finally, Morgan Stanley set a $82.00 price target on Corning in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Corning Stock Performance

The company has a market capitalization of $80.86 billion, a price-to-earnings ratio of 59.69, a P/E/G ratio of 1.93 and a beta of 1.11. The stock’s 50 day moving average price is $85.22 and its 200 day moving average price is $69.58. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is 70.89%.

Insider Activity

In related news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 173,856 shares of company stock valued at $15,456,476. 0.32% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of GLW. Brighton Jones LLC boosted its stake in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in Corning during the 1st quarter worth $729,000. New Age Alpha Advisors LLC acquired a new position in Corning in the 1st quarter valued at $64,000. Headlands Technologies LLC bought a new stake in shares of Corning during the 1st quarter valued at $38,000. Finally, Benjamin Edwards Inc. grew its holdings in shares of Corning by 7.7% during the 1st quarter. Benjamin Edwards Inc. now owns 41,823 shares of the electronics maker’s stock worth $1,915,000 after purchasing an additional 3,000 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.