Corning (NYSE:GLW) Stock Price Down 1.1% – What’s Next?

Corning Incorporated (NYSE:GLW) shares were down 1.1% during trading on Monday . The company traded as low as $152.59 and last traded at $152.9730. Approximately 7,779,281 shares changed hands during trading, a decline of 39% from the average daily volume of 12,835,921 shares. The stock had previously closed at $154.61.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLW shares. Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Barclays boosted their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. JPMorgan Chase & Co. increased their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 1.1%

The company’s fifty day moving average price is $192.81 and its two-hundred day moving average price is $153.30. 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 market cap of $131.65 billion, a price-to-earnings ratio of 73.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for 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 period in the previous year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s payout ratio is currently 53.59%.

Insider Activity at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the firm’s 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 sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp lifted its holdings in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC boosted its position in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors boosted its position in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. Institutional investors and hedge funds 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.