Corning (NYSE:GLW) Sets New 12-Month High – Should You Buy?

Corning Incorporated (NYSE:GLW) shares hit a new 52-week high during trading on Monday . The stock traded as high as $212.39 and last traded at $210.4590, with a volume of 10792851 shares traded. The stock had previously closed at $194.92.

Analyst Ratings Changes

Several equities research analysts have issued reports on GLW shares. Bank of America lifted their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Oppenheimer increased their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Barclays raised their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Mizuho lifted their target price on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Citigroup boosted their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Trading Up 6.1%

The stock has a market capitalization of $177.21 billion, a P/E ratio of 98.41, a price-to-earnings-growth ratio of 3.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm’s fifty day simple moving average is $181.88 and its 200 day simple moving average is $139.30.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning’s dividend payout ratio is presently 53.59%.

Insider Transactions at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Institutional investors and hedge funds have recently bought and sold shares of the stock. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in Corning in the 4th quarter valued at about $26,000. MBM Wealth Consultants LLC purchased a new position in shares of Corning during the first quarter valued at approximately $42,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning during the 3rd quarter worth $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Corning during the fourth quarter worth about $27,000. 69.80% of the stock is currently 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.