Corning (NYSE:GLW) Trading Down 2.7% Following Insider Selling

Shares of Corning Incorporated (NYSE:GLW) fell 2.7% on Wednesday after an insider sold shares in the company. The stock traded as low as $185.30 and last traded at $190.9660. 11,019,274 shares traded hands during mid-day trading, a decline of 8% from the average session volume of 12,012,893 shares. The stock had previously closed at $196.17.

Specifically, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analyst Weigh In

GLW has been the topic of several research reports. Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Bank of America increased their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, HSBC reaffirmed a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Corning Trading Down 2.7%

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 firm has a 50 day moving average price of $164.19 and a 200 day moving average price of $124.80. The stock has a market capitalization of $164.35 billion, a PE ratio of 91.37, a P/E/G ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company 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 is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s payout ratio is 53.59%.

Institutional Investors Weigh In On Corning

Institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after buying an additional 580,678 shares in the last quarter. State Street Corp grew its holdings in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after acquiring an additional 439,883 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares during the last quarter. Capital Research Global Investors lifted its holdings in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 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.