Corning (NYSE:GLW) Trading Down 1.4% – Time to Sell?

Corning Incorporated (NYSE:GLW)’s stock price traded down 1.4% on Wednesday . The company traded as low as $172.75 and last traded at $174.98. 11,009,053 shares changed hands during trading, a decline of 9% from the average session volume of 12,074,745 shares. The stock had previously closed at $177.42.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Truist Financial upped their price objective on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Bank of America upped their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Susquehanna upped their price objective 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. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Trading Down 1.4%

The stock has a market capitalization of $150.59 billion, a PE ratio of 83.72, a P/E/G ratio of 2.69 and a beta of 1.15. The company’s 50 day moving average price is $178.51 and its two-hundred day moving average price is $135.42. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Corning’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,561 in the last 90 days. 0.25% of the stock is owned by insiders.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter worth about $25,000. Berbice Capital Management LLC acquired a new stake in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Corning during the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the fourth quarter worth about $31,000. 69.80% of the stock is currently 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.