Corning (NYSE:GLW) Trading Up 1% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s stock price was up 1% during trading on Friday . The company traded as high as $194.98 and last traded at $193.8320. Approximately 8,317,725 shares traded hands during mid-day trading, a decline of 31% from the average daily volume of 12,039,673 shares. The stock had previously closed at $191.89.

Wall Street Analyst Weigh In

Several research firms recently issued reports on GLW. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Citigroup boosted their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. UBS Group boosted their price objective on Corning from $179.00 to $223.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Susquehanna boosted their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $177.92.

Corning Price Performance

The stock has a market cap of $166.82 billion, a PE ratio of 92.74, a P/E/G ratio of 2.59 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a fifty day moving average of $160.32 and a 200-day moving average of $122.51.

Corning (NYSE:GLW) last released 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. 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 analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm posted $0.54 EPS. Corning’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. Sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is presently 53.59%.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the business’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 transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 170,774 shares of company stock valued at $28,148,435. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the 3rd quarter worth about $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the 4th quarter worth about $26,000. Strengthening Families & Communities LLC acquired a new position in shares of Corning during the 3rd quarter worth about $27,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth about $27,000. 69.80% of the stock is owned by institutional investors and hedge funds.

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.