Corning (NYSE:GLW) Trading 1.3% Higher – Should You Buy?

Shares of Corning Incorporated (NYSE:GLW) were up 1.3% during trading on Thursday . The stock traded as high as $146.33 and last traded at $146.00. Approximately 8,079,859 shares changed hands during trading, a decline of 36% from the average daily volume of 12,615,259 shares. The stock had previously closed at $144.13.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Mizuho lowered their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Barclays cut their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

The stock’s 50-day moving average is $164.74 and its two-hundred day moving average is $165.17. The company has a market capitalization of $132.84 billion, a PE ratio of 70.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS 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%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts predict that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Activity

In other news, EVP Lewis A. Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System boosted 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 acquiring an additional 307,620,415 shares in the last quarter. Norges Bank acquired a new position in Corning in the 4th quarter worth about $921,435,000. Bank of New York Mellon Corp purchased a new position in Corning during the second quarter worth approximately $1,510,911,000. Capital Research Global Investors grew its holdings in Corning by 52.7% in 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 during the period. Finally, Legal & General Group Plc acquired a new stake in Corning in the second quarter valued at approximately $1,212,283,000. Institutional investors and hedge funds 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.