Corning (NYSE:GLW) Stock Price Down 5.6% – Here’s What Happened

Corning Incorporated (NYSE:GLW)’s share price traded down 5.6% on Tuesday . The stock traded as low as $176.20 and last traded at $177.3360. 13,344,104 shares traded hands during trading, an increase of 11% from the average daily volume of 12,049,365 shares. The stock had previously closed at $187.88.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLW. JPMorgan Chase & Co. upped their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday, May 8th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays upped their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Corning Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company’s fifty day moving average is $179.09 and its 200 day moving average is $136.06. The company has a market cap of $168.06 billion, a P/E ratio of 93.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the company earned $0.54 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of 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. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last quarter. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Merit Financial Group LLC lifted its stake in shares of Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ grew its stake in Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after purchasing an additional 12,297 shares during the period. Security National Bank grew its stake in Corning by 340.4% in 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. Natixis Advisors LLC raised its holdings in Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares in the last quarter. Finally, Three Seasons Wealth LLC bought a new position in Corning in the fourth quarter worth $1,750,000. Institutional investors 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.