Corning (NYSE:GLW) Shares Down 6.2% – Here’s What Happened

Corning Incorporated (NYSE:GLW) fell 6.2% on Monday . The stock traded as low as $126.68 and last traded at $128.38. 14,056,125 shares were traded during trading, an increase of 23% from the average session volume of 11,382,669 shares. The stock had previously closed at $136.81.

Analyst Ratings Changes

GLW has been the subject of a number of research analyst reports. Susquehanna lifted their target price on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Wolfe Research set a $130.00 price target on Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Morgan Stanley lifted their price objective on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research report on Monday, February 23rd. Oppenheimer set a $120.00 price objective on Corning in a research note on Thursday, January 29th. Finally, Mizuho set a $145.00 target price on Corning in a report on Monday, February 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average target price of $132.67.

Corning Price Performance

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The firm has a market capitalization of $110.28 billion, a P/E ratio of 69.77, a PEG ratio of 2.16 and a beta of 1.05. The company’s 50 day moving average price is $126.73 and its 200 day moving average price is $99.99.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. Corning’s payout ratio is presently 60.87%.

Insider Buying and Selling at Corning

In other Corning news, 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 completion of the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider owned 19,926 shares in the company, valued at approximately $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 233,201 shares of company stock valued at $32,614,558 over the last ninety days. Company insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of institutional investors and hedge funds have recently modified their holdings of the business. Brighton Jones LLC raised its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning in the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning during the second quarter worth $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning in the second quarter valued at about $266,000. 69.80% of the stock is owned by institutional investors.

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.