Corning (NYSE:GLW) Stock Price Up 2% – Still a Buy?

Corning Incorporated (NYSE:GLW) traded up 2% during trading on Wednesday . The company traded as high as $82.83 and last traded at $81.7360. 5,384,912 shares were traded during trading, a decline of 15% from the average session volume of 6,306,133 shares. The stock had previously closed at $80.12.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research analyst reports. Morgan Stanley set a $82.00 target price on Corning in a research note on Wednesday, October 29th. Citigroup raised their price target on shares of Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Wednesday. UBS Group reiterated a “buy” rating and issued a $109.00 target price (up previously from $100.00) on shares of Corning in a research report on Friday. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $91.64.

Corning Stock Performance

The stock has a market cap of $68.05 billion, a P/E ratio of 50.23, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The firm’s 50-day moving average is $83.93 and its two-hundred day moving average is $66.11. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s revenue for the quarter was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

Insider Buying and Selling at Corning

In other news, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the transaction, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 173,856 shares of company stock worth $15,456,476 in the last 90 days. Company insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in shares of Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after purchasing an additional 750,530 shares during the period. State Street Corp grew its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC grew its holdings in Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Wellington Management Group LLP increased its position in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.