Insider Selling: Corning (NYSE:GLW) CEO Sells $18,646,000.00 in Stock

Corning Incorporated (NYSE:GLW) CEO Wendell 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Corning Stock Performance

NYSE GLW opened at $177.10 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm’s fifty day moving average price is $176.41 and its two-hundred day moving average price is $133.34. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79. The firm has a market capitalization of $152.42 billion, a P/E ratio of 84.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15.

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, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The company’s quarterly 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. As a group, research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Hedge Funds Weigh In On Corning

Hedge funds have recently bought and sold shares of the business. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new position in Corning during the fourth quarter worth about $26,000. MBM Wealth Consultants LLC bought a new position in Corning during the first quarter worth about $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the third quarter worth about $25,000. Finally, Kemnay Advisory Services Inc. bought a new position in Corning during the fourth quarter worth about $27,000. 69.80% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have issued reports on GLW. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Bank of America upped their price target 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. Oppenheimer upped their price target on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Finally, HSBC reiterated a “buy” rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning is being highlighted as a key AI infrastructure beneficiary as photonics demand rises with surging data-center bandwidth needs, reinforcing the growth case for its optical communications business. Photonics Is the New Hot Cake of AI Infrastructure Space: 5 Picks
• Positive Sentiment: Recent commentary also says Corning has benefited from robust demand in optical communications, which supports revenue momentum and the company’s earnings outlook. Corning (GLW) Gained from Robust Demand in Optical Communications
• Positive Sentiment: Analysts and market commentators continue to point to Corning’s AI-related fiber and connectivity exposure as a long-term driver, helping explain why shares have been trending higher over the past several months. Corning Is Paving AI’s Future With Glass

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.