Corning (NYSE:GLW) Trading Up 5.2% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s share price was up 5.2% on Wednesday . The stock traded as high as $169.95 and last traded at $167.47. Approximately 9,994,511 shares traded hands during trading, a decline of 23% from the average daily volume of 12,998,120 shares. The stock had previously closed at $159.19.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Wall Street Zen raised shares of Corning from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 8th. Barclays reduced their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Finally, Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Performance

The company has a market cap of $141.88 billion, a price-to-earnings ratio of 75.23, a P/E/G ratio of 2.14 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $177.06 and its 200 day moving average price is $161.42.

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

Corning Announces Dividend

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 dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is currently 51.14%.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Brighton Jones LLC raised its stake in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning in the second quarter valued at about $266,000. 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.