Corning (NYSE:GLW) Stock Price Down 6.3% – Here’s What Happened
by Kim Johansen · The Markets DailyCorning Incorporated (NYSE:GLW – Get Free Report)’s share price traded down 6.3% on Friday . The stock traded as low as $124.41 and last traded at $124.7160. 22,157,249 shares changed hands during trading, an increase of 99% from the average session volume of 11,158,762 shares. The stock had previously closed at $133.08.
Analyst Ratings Changes
Several research analysts recently issued reports on the stock. Citigroup increased their price target on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research report on Wednesday, February 25th. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. UBS Group increased their target price on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Morgan Stanley boosted their price target on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Finally, Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $131.75.
Get Our Latest Research Report on GLW
Corning Price Performance
The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. The company has a 50-day moving average price of $121.21 and a 200-day moving average price of $96.86. The firm has a market capitalization of $107.00 billion, a P/E ratio of 67.78, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05.
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the prior year, the company posted $0.57 earnings per share. The firm’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.
Corning Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.
Insider Buying and Selling
In related news, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Li Fang sold 9,797 shares of Corning stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. Insiders have sold 233,201 shares of company stock worth $32,614,558 over the last ninety days. Insiders own 0.40% of the company’s stock.
Institutional Trading of Corning
A number of large investors have recently bought and sold shares of the business. Beese Fulmer Investment Management Inc. boosted its holdings in shares of Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after buying an additional 92 shares during the period. 3Chopt Investment Partners LLC boosted its stake in Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after purchasing an additional 97 shares during the period. Patten & Patten Inc. TN boosted its stake in Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after purchasing an additional 100 shares during the period. Vermillion Wealth Management Inc. increased its holdings in Corning by 32.8% during the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 100 shares in the last quarter. Finally, Joel Isaacson & Co. LLC raised its stake in shares of Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock valued at $1,797,000 after purchasing an additional 102 shares during the period. 69.80% of the stock is 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.