Corning (NYSE:GLW) Shares Up 4.4% – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) rose 4.4% on Monday . The stock traded as high as $176.94 and last traded at $173.29. Approximately 11,087,560 shares were traded during mid-day trading, a decline of 14% from the average session volume of 12,941,553 shares. The stock had previously closed at $165.99.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLW. Mizuho dropped their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Finally, Bank of America lifted their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

The business has a 50-day moving average price of $176.82 and a 200-day moving average price of $161.92. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given 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 Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new stake in Corning during the 2nd quarter valued at approximately $26,000. Burk Holdings LLC acquired a new stake in shares of Corning in the second quarter worth $53,000. Delos Wealth Advisors LLC acquired a new stake in shares of Corning in the second quarter worth $55,000. Aberdeen Wealth Management LLC purchased a new position in shares of Corning during the second quarter worth $57,000. Finally, ABS Investment Management LLC acquired a new position in Corning during the second quarter valued at $664,118,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.