Corning (NYSE:GLW) Shares Climb 3% – Should You Buy?

Corning Incorporated (NYSE:GLW)’s stock price was up 3% on Monday. The company traded as high as $128.58 and last traded at $127.3410. 12,915,927 shares traded hands during trading, an increase of 9% from the average daily volume of 11,881,528 shares. The stock had previously closed at $123.69.

Wall Street Analyst Weigh In

GLW has been the topic of several recent research reports. Mizuho decreased their price target on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 15th. Bank of America reduced their price objective on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on Corning from $170.00 to $165.00 and set a “neutral” rating on the stock in a report on Wednesday, October 21st. Barclays decreased their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.25.

Corning Stock Performance

The firm’s 50-day simple moving average is $150.96 and its two-hundred day simple moving average is $168.43. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $109.69 billion, a PE ratio of 58.15, a PEG ratio of 1.56 and a beta of 1.13.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts expect that Corning Incorporated will post 3.30 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio is currently 51.14%.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm’s 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 directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of large investors have recently made changes to their positions in GLW. State Street Corp boosted its holdings in shares of Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the period. Bank of America Corp DE grew its position in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP increased its stake in Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the period. Bank of New York Mellon Corp acquired a new position in Corning in the 2nd quarter valued at approximately $1,510,911,000. Finally, Legal & General Group Plc purchased a new stake in Corning in the 2nd quarter worth approximately $1,212,283,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.