Corning (NYSE:GLW) Trading Down 6.1% – Here’s Why

Corning Incorporated (NYSE:GLW) fell 6.1% during trading on Friday . The company traded as low as $145.93 and last traded at $146.57. Approximately 8,855,237 shares traded hands during trading, a decline of 30% from the average session volume of 12,731,310 shares. The stock had previously closed at $156.06.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research analyst reports. Oppenheimer raised their target price on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Barclays increased their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group set a $243.00 price objective on shares of Corning in a research note on Monday, July 6th. Finally, Truist Financial increased their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Trading Down 6.1%

The business’s 50-day moving average is $188.01 and its two-hundred day moving average is $155.14. 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 stock has a market capitalization of $126.14 billion, a PE ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company posted $0.54 earnings per share. 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. On average, analysts predict that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

Hedge funds have recently bought and sold shares of the company. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the fourth quarter valued at $26,000. Atwood & Palmer Inc. acquired a new position in shares of Corning during the second quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the fourth quarter worth about $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.