Corning (NYSE:GLW) Stock Jumps 6.1% Following Dividend Announcement

Shares of Corning Incorporated (NYSE:GLW) traded up 6.1% during trading on Tuesday after the company announced a dividend. The company traded as high as $170.63 and last traded at $169.0670. Approximately 8,838,086 shares traded hands during mid-day trading, a decline of 27% from the average session volume of 12,124,027 shares. The stock had previously closed at $159.37.

The newly announced dividend which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley lowered their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Barclays lowered their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research note on Tuesday, September 8th. Twelve research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.87.

Corning Trading Down 7.4%

The company’s 50-day moving average is $155.06 and its 200-day moving average is $168.44. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm has a market cap of $130.23 billion, a price-to-earnings ratio of 69.08, a P/E/G ratio of 2.15 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts predict that Corning Incorporated will post 3.28 earnings per share for the current year.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-related demand for optical components and data-center networking is identified as a major growth driver for Corning. Rising backlogs, network investment and large data-center deals could support further revenue growth and upside potential. Buy GLW and CIEN to Gain More on AI Communication Component Space Rally
• Positive Sentiment: Truist raised its price target for Corning from $175 to $182, signaling continued confidence in the company’s AI-driven optical-fiber opportunity and longer-term growth outlook. Truist Raises Target for Corning Stock
• Positive Sentiment: Corning declared a quarterly dividend of $0.28 per share, payable December 11 to shareholders of record November 13. The $1.12 annualized payout provides ongoing shareholder support, although the yield is modest at approximately 0.7%. Corning Announces Quarterly Dividend
• Neutral Sentiment: Corning’s shares have risen sharply year to date, helped by optical growth, data-center contracts and stronger solar demand. However, elevated valuation and potential pressure on margins and profits could limit near-term gains. Corning Surges 93 Percent Year to Date
• Negative Sentiment: Pomerantz LLP said it is investigating potential claims on behalf of Corning investors. The announcement may weigh on sentiment, although it does not establish wrongdoing or indicate that a formal lawsuit has been filed. Pomerantz Investor Alert

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp boosted its position in shares of Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the last quarter. Bank of America Corp DE increased its holdings in Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. Wellington Management Group LLP lifted its stake in Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the period. Bank of New York Mellon Corp acquired a new position in Corning in the second quarter valued at about $1,510,911,000. Finally, Legal & General Group Plc bought a new position in Corning during the second quarter worth about $1,212,283,000. 69.80% of the stock is owned by institutional investors.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.