Corning (NYSE:GLW) CEO Wendell Weeks Sells 100,000 Shares

Corning Incorporated (NYSE:GLW) CEO Wendell Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Corning Price Performance

Shares of NYSE:GLW opened at $174.12 on Wednesday. The stock has a market cap of $149.86 billion, a price-to-earnings ratio of 83.31, a PEG ratio of 2.68 and a beta of 1.15. 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 Incorporated has a 12 month low of $49.47 and a 12 month high of $211.79. The stock’s 50 day moving average price is $174.78 and its 200 day moving average price is $132.02.

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

Corning Announces Dividend

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

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning announced a multibillion-dollar, multiyear deal with Amazon to supply optical fiber, cable, and connectivity solutions for U.S. data centers, strengthening its position in AI and cloud infrastructure. Amazon, Corning sign multi-billion-dollar deal to boost fiber optics manufacturing in US
• Positive Sentiment: The deal is expected to expand Corning’s North Carolina manufacturing footprint and create about 1,000 jobs, which supports longer-term production capacity and customer demand. Amazon strikes multibillion-dollar deal with Corning to power AI data centers in U.S.
• Positive Sentiment: Analysts and commentators are pointing to Corning as a key beneficiary of the shift from copper to optical fiber in AI data centers, with demand from hyperscalers improving the company’s growth outlook. Corning Is Paving AI’s Future With Glass
• Positive Sentiment: Corning’s optical communications sales have been growing quickly, and the Amazon deal adds to a string of AI-related wins that could support margin expansion and earnings upgrades. Why Corning (GLW) Is Up 6.1% After Amazon’s Multiyear US Data Center Fiber Deal And What’s Next
• Neutral Sentiment: Corning CEO Wendell P. Weeks sold 100,000 shares, a routine insider sale that may raise some caution but does not necessarily change the company’s operating outlook. SEC Form 4

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of GLW. Capital Research Global Investors acquired a new stake in Corning during the 3rd quarter valued at $907,164,000. Norges Bank acquired a new stake in Corning during the 4th quarter valued at $921,435,000. Wellington Management Group LLP raised its stake in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc raised its stake in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Oppenheimer upped their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Citigroup upped their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Truist Financial upped their price target on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $178.31.

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.