Corning (NYSE:GLW) Trading Down 2.6% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s share price dropped 2.6% on Monday . The company traded as low as $172.43 and last traded at $176.4460. Approximately 10,772,402 shares changed hands during trading, a decline of 10% from the average daily volume of 12,026,693 shares. The stock had previously closed at $181.16.

Analysts Set New Price Targets

A number of brokerages recently issued reports on GLW. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Mizuho increased their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. JPMorgan Chase & Co. boosted their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $177.92.

Corning Trading Up 13.3%

The company has a market capitalization of $172.37 billion, a P/E ratio of 95.83, a P/E/G ratio of 2.53 and a beta of 1.15. The stock’s 50 day moving average is $168.33 and its 200-day moving average is $127.49. 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 (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm posted $0.54 EPS. The business’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% 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 60,655 shares of company stock worth $12,046,561 in the last ninety days. 0.25% of the stock is owned by company insiders.

Hedge Funds Weigh In On Corning

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Berbice Capital Management LLC bought a new position in Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the fourth quarter worth $26,000. MBM Wealth Consultants LLC purchased a new stake in shares of Corning in the first quarter worth $42,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning in the third quarter worth $25,000. Finally, Kemnay Advisory Services Inc. bought a new position in shares of Corning during the fourth quarter valued at $27,000. Institutional investors 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.