Corning (NYSE:GLW) Shares Down 6.1% – What’s Next?

Shares of Corning Incorporated (NYSE:GLW) dropped 6.1% on Friday . The stock traded as low as $145.93 and last traded at $146.57. Approximately 8,855,237 shares changed hands during trading, a decline of 30% from the average session volume of 12,731,310 shares. The stock had previously closed at $156.06.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Truist Financial upped their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 6.1%

The firm’s 50-day simple moving average is $188.92 and its 200-day simple moving average is $155.20. The firm has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly 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 net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s 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. Analysts anticipate that Corning Incorporated will post 3.18 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 0.8%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Activity

In other Corning news, 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 transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank purchased a new stake in Corning during the fourth quarter valued at approximately $921,435,000. Capital Research Global Investors increased its holdings 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 acquiring an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in Corning during the fourth quarter worth $185,312,000. Institutional investors 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.