Corning (NYSE:GLW) Shares Up 1.3% – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) shot up 1.3% on Tuesday . The stock traded as high as $170.20 and last traded at $162.1180. 12,214,733 shares changed hands during mid-day trading, an increase of 9% from the average session volume of 11,180,068 shares. The stock had previously closed at $159.96.

Analyst Ratings Changes

Several research firms have recently weighed in on GLW. Truist Financial increased their price objective on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. UBS Group increased their price objective on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 20th. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. HSBC reissued a “buy” rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Finally, Barclays increased their price objective on Corning from $100.00 to $149.00 and gave the company an “equal weight” rating in a report on Wednesday, April 29th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $150.31.

Corning Trading Up 1.3%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $148.66 and a two-hundred day moving average of $113.22. The stock has a market capitalization of $139.27 billion, a price-to-earnings ratio of 77.57, a P/E/G ratio of 2.26 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 firm had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $0.54 earnings per share. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts expect that Corning Incorporated will post 3.17 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Activity

In related news, VP John Z. Zhang sold 1,531 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total transaction of $204,771.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Eric S. Musser sold 15,000 shares of the firm’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the sale, the insider directly owned 4,926 shares of the company’s stock, valued at approximately $641,611.50. This trade represents a 75.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 187,053 shares of company stock valued at $27,653,630. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of GLW. Capital Research Global Investors acquired a new stake in Corning in the third quarter valued at $907,164,000. Norges Bank acquired a new stake in Corning in the fourth quarter valued at $921,435,000. WCM Investment Management LLC acquired a new stake in Corning in the third quarter valued at $676,931,000. Wellington Management Group LLP lifted its holdings in Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Finally, Polar Capital Holdings Plc lifted its holdings in Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.