Corning (NYSE:GLW) Trading Down 7.5% – Here’s Why

Corning Incorporated (NYSE:GLW)’s stock price fell 7.5% during trading on Thursday . The stock traded as low as $134.50 and last traded at $135.41. 11,199,650 shares traded hands during mid-day trading, a decline of 2% from the average session volume of 11,441,586 shares. The stock had previously closed at $146.35.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on GLW. HSBC restated a “buy” rating and issued a $135.00 target price on shares of Corning in a research note on Friday, February 13th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Susquehanna upped their price objective on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a report on Thursday, January 29th. Finally, UBS Group lifted their price target on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $132.67.

Corning Price Performance

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $125.03 and its 200-day moving average price is $98.92. The stock has a market cap of $116.32 billion, a P/E ratio of 73.59, a PEG ratio of 2.24 and a beta of 1.05.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 60.87%.

Insider Activity

In other news, insider Eric S. Musser sold 25,000 shares of Corning stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the sale, the insider owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. The trade was a 55.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Li Fang sold 9,797 shares of Corning stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.40% of the stock is owned by insiders.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning in the 3rd quarter worth about $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC purchased a new stake in shares of Corning in the third quarter worth $27,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the fourth quarter worth $27,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

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.