Lewis Steverson Sells 13,100 Shares of Corning (NYSE:GLW) Stock

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Corning Trading Down 2.1%

NYSE GLW opened at $145.61 on Wednesday. Corning Incorporated has a 1 year low of $66.14 and a 1 year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market capitalization of $125.43 billion, a PE ratio of 66.49, a P/E/G ratio of 1.90 and a beta of 1.14. The company has a fifty day moving average of $169.00 and a 200 day moving average of $165.07.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 51.14%.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLW. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Barclays cut their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Finally, Morgan Stanley lowered their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s second-quarter results were stronger than expected, with revenue of $4.74 billion, up 17.1% year over year, and EPS of $0.78 versus the $0.76 consensus estimate. The company has also cited increasing demand for optical fiber, data-center infrastructure and other products tied to AI and telecommunications investment. Business is Booming for Corning. Time to Buy?
• Positive Sentiment: Industry research continues to identify Corning as a leading fiber-optical cable supplier, with long-term demand supported by 5G rollouts, broadband upgrades, cloud infrastructure and AI-related data-center expansion. Corning gains recognition in the global fiber optical cable market
• Neutral Sentiment: Analyst opinion remains generally favorable, with a consensus “Moderate Buy” rating, although several firms have reduced price targets. This suggests confidence in Corning’s longer-term prospects but greater caution about valuation and execution.
• Negative Sentiment: Broader weakness in growth and AI-linked technology stocks, alongside higher bond yields and oil prices, appears to have encouraged profit-taking after Corning’s earlier rally. Corning slides as investors appear to take profits amid a weaker tech tape
• Negative Sentiment: Executive Vice President Lewis Steverson sold 13,100 shares for approximately $2.0 million, reducing his holdings by about 46.5%. The filing may have added to investor caution, particularly because recent insider activity has consisted of sales rather than purchases. SEC Form 4 insider sale

Hedge Funds Weigh In On Corning

Hedge funds have recently bought and sold shares of the business. California State Teachers Retirement System raised its stake in shares of Corning by 26,791.0% during the 2nd quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker’s stock worth $78,868,773,000 after buying an additional 307,620,415 shares during the period. Norges Bank acquired a new position in Corning during the fourth quarter worth $921,435,000. Bank of New York Mellon Corp purchased a new position in Corning during the second quarter valued at $1,510,911,000. Capital Research Global Investors lifted its holdings in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Legal & General Group Plc acquired a new stake in shares of Corning in the second quarter valued at about $1,212,283,000. Hedge funds and other 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.