Insider Selling: Corning (NYSE:GLW) EVP Sells $1,981,899.00 in Stock

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Corning Stock Performance

Shares of GLW traded down $0.23 during mid-day trading on Monday, hitting $148.75. 9,230,322 shares of the company traded hands, compared to its average volume of 12,680,841. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a 50-day moving average price of $171.18 and a two-hundred day moving average price of $164.84. Corning Incorporated has a 1 year low of $66.14 and a 1 year high of $271.78. The stock has a market cap of $128.13 billion, a price-to-earnings ratio of 67.92, a P/E/G ratio of 1.91 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Wall Street Analyst Weigh In

GLW has been the topic of several research reports. Barclays dropped their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Morgan Stanley dropped their price objective 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. UBS Group reiterated a “buy” rating and set a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Security National Bank lifted its holdings in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Herbst Group LLC purchased a new stake in shares of Corning during the second quarter worth about $4,474,000. Principal Financial Group Inc. raised its position in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC raised its position in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC lifted its stake in Corning by 137.8% in the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after buying an additional 6,998 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

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.