Corning (NYSE:GLW) Trading Up 2.4% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s share price was up 2.4% on Thursday . The stock traded as high as $87.29 and last traded at $85.57. Approximately 8,124,789 shares traded hands during trading, an increase of 29% from the average daily volume of 6,286,129 shares. The stock had previously closed at $83.55.

Analyst Ratings Changes

GLW has been the subject of a number of analyst reports. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price target on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research report on Wednesday, October 29th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Corning Price Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. The company’s 50 day moving average price is $84.62 and its 200-day moving average price is $68.32. The company has a market cap of $73.36 billion, a price-to-earnings ratio of 54.16, a PEG ratio of 1.81 and a beta of 1.11.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 70.89%.

Insider Activity at Corning

In other Corning news, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the sale, the insider owned 44,926 shares in the company, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the sale, the senior vice president directly owned 5,049 shares of the company’s stock, valued at $460,872.72. This represents a 70.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 173,856 shares of company stock valued at $15,456,476 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of large investors have recently made changes to their positions in the company. Capital Research Global Investors acquired a new position in Corning in the 3rd quarter worth approximately $907,164,000. Norges Bank purchased a new stake in shares of Corning in the second quarter valued at $534,936,000. WCM Investment Management LLC purchased a new stake in shares of Corning in the third quarter valued at $676,931,000. Wellington Management Group LLP boosted its position in shares of Corning by 30.3% in 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 buying an additional 3,848,540 shares during the period. Finally, Voya Investment Management LLC grew its holdings in shares of Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after buying an additional 2,795,948 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.