Corning (NYSE:GLW) Trading Up 3.8% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s share price was up 3.8% during trading on Wednesday . The company traded as high as $152.93 and last traded at $152.76. Approximately 5,960,533 shares were traded during mid-day trading, a decline of 53% from the average daily volume of 12,767,299 shares. The stock had previously closed at $147.16.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of research reports. Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and decreased their price objective for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Up 3.8%

The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market cap of $131.59 billion, a price-to-earnings ratio of 69.75, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The firm has a 50 day moving average price of $173.41 and a 200-day moving average price of $164.22.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Security National Bank increased its position in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the period. Herbst Group LLC bought a new stake in Corning in the 2nd quarter valued at about $4,474,000. Principal Financial Group Inc. grew its position in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its holdings in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Atlas Wealth LLC increased its holdings in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the period. 69.80% of the stock is owned by institutional investors.

About Corning

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.