Corning (NYSE:GLW) EVP Sells $2,000,960.52 in Stock

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 15,366 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the transaction, the executive vice president directly owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Corning Price Performance

Shares of GLW stock traded up $4.93 on Wednesday, reaching $133.03. The company’s stock had a trading volume of 10,005,624 shares, compared to its average volume of 8,983,004. The company has a market capitalization of $114.06 billion, a P/E ratio of 72.30, a PEG ratio of 2.28 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock’s 50 day simple moving average is $94.81 and its 200-day simple moving average is $83.49. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $134.39.

Corning (NYSE:GLW) last announced its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the business posted $0.57 earnings per share. Corning’s revenue for the quarter 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, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Hartline Investment Corp boosted its holdings in shares of Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock worth $24,229,000 after buying an additional 156,843 shares during the last quarter. Vanguard Group Inc. raised its position in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after acquiring an additional 1,582,895 shares during the period. Schroder Investment Management Group boosted its stake in shares of Corning by 638.0% during the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after acquiring an additional 472,365 shares during the last quarter. Motley Fool Asset Management LLC grew its position in shares of Corning by 10.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock valued at $2,316,000 after acquiring an additional 4,183 shares during the period. Finally, Jefferies Financial Group Inc. increased its stake in shares of Corning by 33.2% in the 2nd quarter. Jefferies Financial Group Inc. now owns 180,606 shares of the electronics maker’s stock worth $9,498,000 after purchasing an additional 44,994 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GLW. Argus boosted their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Citigroup boosted their price target on shares of Corning from $102.00 to $120.00 and gave the stock a “buy” rating in a research note on Thursday, January 29th. Susquehanna upped their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Barclays set a $100.00 price objective on Corning in a report on Thursday, January 29th. Finally, Oppenheimer set a $120.00 target price on Corning in a report on Thursday, January 29th. Nine investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.36.

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.