Corning (NYSE:GLW) Trading 2.6% Higher – Here’s What Happened

Corning Incorporated (NYSE:GLW) was up 2.6% during trading on Thursday . The stock traded as high as $134.25 and last traded at $133.18. Approximately 11,118,474 shares were traded during trading, an increase of 1% from the average daily volume of 10,987,418 shares. The stock had previously closed at $129.86.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. Citigroup boosted their price target on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. HSBC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Oppenheimer set a $120.00 target price on Corning in a research note on Thursday, January 29th. Finally, UBS Group raised their price target on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 20th. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $131.75.

Corning Trading Up 2.6%

The company has a market capitalization of $114.26 billion, a P/E ratio of 72.38, a PEG ratio of 2.05 and a beta of 1.05. The stock has a fifty day moving average of $120.26 and a 200 day moving average of $96.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 60.87%.

Insider Buying and Selling at Corning

In related news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the transaction, the executive vice president owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. This represents a 81.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.40% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp raised its position in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors grew its holdings in Corning by 52.7% during the 4th 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 in the last quarter. Finally, Wellington Management Group LLP grew its position in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Company Profile

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.