Corning (NYSE:GLW) Trading Up 3.9% – Here’s What Happened

Corning Incorporated (NYSE:GLW) was up 3.9% during trading on Thursday . The company traded as high as $148.18 and last traded at $147.9210. Approximately 11,387,647 shares changed hands during mid-day trading, a decline of 0% from the average daily volume of 11,443,767 shares. The stock had previously closed at $142.38.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLW. Truist Financial began coverage on shares of Corning in a research report on Tuesday. They issued a “hold” rating and a $125.00 target price for the company. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. UBS Group raised their target price on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Morgan Stanley boosted their price target on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $132.08.

Corning Stock Up 3.9%

The firm’s 50-day moving average price is $129.26 and its 200 day moving average price is $101.07. The company has a market capitalization of $127.07 billion, a price-to-earnings ratio of 80.39, a PEG ratio of 2.15 and a beta of 1.05. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, February 27th were given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date was Friday, February 27th. Corning’s dividend payout ratio is 60.87%.

Insiders Place Their Bets

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares in the company, valued at approximately $450,691.42. The trade was a 81.62% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

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

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.