Corning (NYSE:GLW) Trading Up 5.6% – Still a Buy?

Shares of Corning Incorporated (NYSE:GLW) were up 5.6% during trading on Friday . The company traded as high as $154.59 and last traded at $154.22. 7,887,553 shares traded hands during mid-day trading, a decline of 37% from the average daily volume of 12,590,764 shares. The stock had previously closed at $146.00.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Bank of America increased their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. dropped their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, Mizuho cut their price target 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. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Up 5.6%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The business has a fifty day simple moving average of $166.12 and a 200 day simple moving average of $165.25. The company has a market cap of $132.84 billion, a P/E ratio of 70.42, a P/E/G ratio of 1.84 and a beta of 1.16.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Insider Transactions at Corning

In other Corning news, EVP Lewis A. Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Wendell Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in GLW. California State Teachers Retirement System boosted its holdings in shares of Corning by 26,791.0% during the second quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker’s stock valued at $78,868,773,000 after acquiring an additional 307,620,415 shares during the period. State Street Corp boosted its stake in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the period. Geode Capital Management LLC boosted its stake in 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 purchasing an additional 517,067 shares during the period. Bank of America Corp DE increased its stake in shares of Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the period. Finally, Capital Research Global Investors increased its stake in shares of Corning by 52.7% in the fourth 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 during the period. 69.80% of the stock is currently 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.