Corning (NYSE:GLW) Shares Down 6.3% – Should You Sell?

Shares of Corning Incorporated (NYSE:GLW) dropped 6.3% during trading on Thursday . The stock traded as low as $148.40 and last traded at $150.29. Approximately 17,502,998 shares changed hands during mid-day trading, an increase of 73% from the average daily volume of 10,141,131 shares. The stock had previously closed at $160.43.

Analysts Set New Price Targets

Several research firms have issued reports on GLW. HSBC reiterated a “buy” rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. UBS Group upped their target price on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Morgan Stanley lifted their price target on shares of Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a report on Monday. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Citigroup upped their price objective on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $125.42.

Corning Trading Down 6.3%

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market cap of $128.94 billion, a P/E ratio of 81.68, a P/E/G ratio of 2.62 and a beta of 1.13. The business has a 50-day moving average price of $105.76 and a two-hundred day moving average price of $89.15.

Corning (NYSE:GLW) last announced its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company’s revenue was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is 60.87%.

Insiders Place Their Bets

In other Corning news, COO Avery H. Nelson III sold 6,262 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $129.79, for a total value of $812,744.98. Following the transaction, the chief operating officer directly owned 61,371 shares of the company’s stock, valued at approximately $7,965,342.09. This trade represents a 9.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares of the company’s stock, valued at $450,691.42. The trade was a 81.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 95,687 shares of company stock valued at $11,249,008 over the last three months. 0.40% of the stock is owned by insiders.

Hedge Funds Weigh In On Corning

Several hedge funds have recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the 3rd quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the fourth quarter valued at approximately $26,000. Strengthening Families & Communities LLC bought a new stake in Corning in the third quarter valued at approximately $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Corning in the fourth quarter worth $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

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.