Corning (NYSE:GLW) Trading 5.6% Higher – Time to Buy?

Corning Incorporated (NYSE:GLW)’s stock price rose 5.6% on Friday . The company traded as high as $154.59 and last traded at $154.22. 7,887,553 shares were traded during trading, a decline of 37% from the average daily volume of 12,590,764 shares. The stock had previously closed at $146.00.

Analyst Ratings Changes

GLW has been the topic of several research reports. Barclays lowered their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Oppenheimer dropped their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Citigroup cut their price target on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Up 5.6%

The stock has a market cap of $132.84 billion, a P/E ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16. The firm’s fifty day moving average price is $164.74 and its two-hundred day moving average price is $165.17. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 13,100 shares of Corning stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Corning

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Brighton Jones LLC boosted its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in Corning during the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new position in Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning in the 2nd quarter worth approximately $266,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

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.