Corning (NYSE:GLW) Stock Price Up 15.7% – Here’s Why

Corning Incorporated (NYSE:GLW)’s share price was up 15.7% on Monday . The company traded as high as $258.80 and last traded at $255.79. Approximately 24,085,469 shares traded hands during trading, an increase of 88% from the average daily volume of 12,806,866 shares. The stock had previously closed at $221.05.

Analyst Ratings Changes

A number of research analysts recently issued reports on GLW shares. Oppenheimer boosted their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. increased their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Performance

The company has a fifty day moving average of $184.70 and a 200 day moving average of $142.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $220.14 billion, a P/E ratio of 122.39, a PEG ratio of 3.16 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.4%. Corning’s payout ratio is 53.59%.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

A number of hedge funds have recently bought and sold shares of GLW. Brighton Jones LLC boosted its stake in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning in the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Corning during the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning during the second quarter valued at $266,000. 69.80% of the stock is owned by hedge funds and other 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.