Corning (NYSE:GLW) Trading Up 5.4% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s share price rose 5.4% during mid-day trading on Friday . The company traded as high as $170.43 and last traded at $165.6470. 10,691,532 shares were traded during trading, a decline of 18% from the average session volume of 13,102,724 shares. The stock had previously closed at $157.18.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GLW shares. UBS Group reaffirmed a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Bank of America increased their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Morgan Stanley reduced their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Stock Up 5.4%

The stock has a market cap of $142.69 billion, a price-to-earnings ratio of 75.64, a PEG ratio of 2.12 and a beta of 1.14. The stock has a 50 day simple moving average of $179.73 and a 200 day simple moving average of $159.07. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last issued its earnings results 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning’s revenue for the quarter 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, analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio is presently 51.14%.

Insider Activity

In other news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Jaymin Amin sold 27,395 shares of the company’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 completion of the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GLW. Berbice Capital Management LLC bought a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Atwood & Palmer Inc. bought a new stake in Corning during the second quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning during the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Corning in the 4th quarter valued at $31,000. 69.80% of the stock is owned by institutional investors.

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.