Corning (NYSE:GLW) Trading Down 5% – Time to Sell?

Corning Incorporated (NYSE:GLW) fell 5% on Tuesday . The stock traded as low as $178.40 and last traded at $185.1550. 12,848,816 shares changed hands during mid-day trading, a decline of 1% from the average daily volume of 13,008,705 shares. The stock had previously closed at $194.80.

Analysts Set New Price Targets

Several research firms have weighed in on GLW. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Barclays raised their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Susquehanna raised their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Truist Financial upped their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Finally, Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday. 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, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $193.54.

Corning Stock Performance

The company has a market cap of $167.81 billion, a price-to-earnings ratio of 93.40, a PEG ratio of 2.43 and a beta of 1.09. The firm’s 50 day simple moving average is $191.61 and its 200-day simple moving average is $148.94. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

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

Corning Announces Dividend

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

Insider Buying and Selling at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Corning

A number of institutional investors and hedge funds have recently made changes to their positions in GLW. Signature Equity Partners LLC grew its stake in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its position in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after acquiring an additional 64 shares in the last quarter. Balefire LLC increased its stake in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. Millstone Evans Group LLC lifted its position in shares of Corning by 1.3% during the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after buying an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position in shares of Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after buying an additional 70 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

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.