Corning Incorporated (NYSE:GLW - Get Free Report) EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction dated 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 sale, the executive vice president owned 15,052 shares of the company's stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Corning Trading Down 0.2%
NYSE:GLW opened at $148.75 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78. The business's 50-day moving average is $169.96 and its two-hundred day moving average is $164.98. The firm has a market capitalization of $128.13 billion, a PE ratio of 67.92, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14.
Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.
Corning Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is 51.14%.
Wall Street Analyst Weigh In
A number of brokerages recently commented on GLW. Truist Financial upgraded Corning from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Bank of America raised their price objective on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a report on Monday, August 24th. Finally, UBS Group reiterated a "buy" rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and an average target price of $174.08.
Get Our Latest Stock Analysis on GLW
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the stock. California State Teachers Retirement System boosted its position in 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 worth $78,868,773,000 after purchasing an additional 307,620,415 shares during the period. State Street Corp lifted its stake in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock worth $1,781,250,000 after buying an additional 517,067 shares during the period. Bank of America Corp DE grew its stake in Corning by 29.2% in the 2nd 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 buying an additional 4,231,507 shares during the last quarter. Finally, Capital Research Global Investors raised its holdings in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. 69.80% of the stock is owned by institutional investors.
Corning Company Profile
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Get Free Report)
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.
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