Corning (NYSE:GLW) Stock Price Down 2.7% – What’s Next?

Corning Incorporated (NYSE:GLW) shares were down 2.7% on Wednesday . The company traded as low as $164.02 and last traded at $168.13. Approximately 8,812,396 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 11,313,548 shares. The stock had previously closed at $172.82.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. HSBC restated a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Bank of America boosted their price objective on Corning from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Mizuho set a $145.00 price objective on Corning in a research note on Monday, February 23rd. Barclays set a $100.00 target price on shares of Corning in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $132.08.

Corning Trading Down 2.7%

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average is $139.63 and its two-hundred day moving average is $106.38. The firm has a market cap of $144.43 billion, a P/E ratio of 91.38, a PEG ratio of 2.75 and a beta of 1.06.

Corning (NYSE:GLW) last posted its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the previous year, the firm posted $0.57 EPS. The business’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Stockholders of record on Friday, February 27th were given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend was Friday, February 27th. Corning’s payout ratio is currently 60.87%.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. The trade was a 81.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 over the last three months. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of hedge funds have recently bought and sold shares of GLW. Lansforsakringar Fondforvaltning AB publ grew its holdings in shares of 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 acquiring an additional 12,297 shares during the period. Hartline Investment Corp lifted its holdings in Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after acquiring an additional 156,843 shares during the period. Three Seasons Wealth LLC purchased a new position in Corning in the fourth quarter worth about $1,750,000. Natixis Advisors LLC grew its stake in shares of Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after purchasing an additional 116,583 shares during the period. Finally, Caprock Group LLC bought a new stake in shares of Corning during the 3rd quarter valued at about $3,355,000. 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.