Corning (NYSE:GLW) Trading Down 4.1% – Should You Sell?

Shares of Corning Incorporated (NYSE:GLW) traded down 4.1% on Monday . The stock traded as low as $178.66 and last traded at $183.14. 7,553,697 shares changed hands during mid-day trading, a decline of 41% from the average session volume of 12,856,307 shares. The stock had previously closed at $190.89.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GLW shares. Truist Financial raised their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. UBS Group set a $243.00 price target on shares of Corning in a research report on Monday, July 6th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Stock Up 2.6%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $161.75 billion, a P/E ratio of 89.92, a price-to-earnings-growth ratio of 2.40 and a beta of 1.09. The business has a 50 day moving average price of $194.07 and a 200 day moving average price of $151.75.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC lifted its position in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after acquiring an additional 6,493 shares during the last quarter. Security National Bank grew its position in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC bought a new position in shares of Corning during the fourth quarter worth approximately $1,750,000. RiverFront Investment Group LLC increased its stake in shares of Corning by 65.4% during the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock worth $1,289,000 after purchasing an additional 5,818 shares during the period. Finally, North Dakota State Investment Board acquired a new stake in Corning during the 4th quarter worth approximately $2,345,000. Institutional investors own 69.80% of the company’s stock.

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.