Corning (NYSE:GLW) Hits New 52-Week High - Here's Why

Key Points

• Corning Incorporated's stock reached a new **52-week high** of $80.30, with a market cap of **$69.39 billion** and a P/E ratio of **86.17**.
• Several analysts have positive outlooks for Corning, with target price increases, including **Susquehanna** raising it to **$75.00** and **JPMorgan** to **$65.00**, reflecting a consensus rating of **"Moderate Buy."**
• The company announced a quarterly dividend of **$0.28 per share** to be paid on **September 29**, resulting in an annualized yield of **1.4%.**

Corning Incorporated (NYSE:GLW - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $80.20 and last traded at $80.30, with a volume of 2574551 shares. The stock had previously closed at $79.16.

Wall Street Analyst Weigh In

Several research analysts have weighed in on GLW shares. Susquehanna restated a "positive" rating and set a $75.00 price objective (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Citigroup upped their price objective on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Argus restated a "buy" rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average target price of $67.33.

Corning Stock Performance

The company has a market cap of $69.39 billion, a P/E ratio of 86.17, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The company's 50-day moving average is $65.89 and its two-hundred day moving average is $53.83. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter last year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio (DPR) is currently 119.15%.

Insider Activity

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of large investors have recently modified their holdings of GLW. REAP Financial Group LLC boosted its position in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock valued at $27,000 after acquiring an additional 339 shares during the period. Total Investment Management Inc. bought a new position in shares of Corning in the second quarter valued at approximately $28,000. Vermillion Wealth Management Inc. bought a new position in shares of Corning in the fourth quarter valued at approximately $29,000. Putney Financial Group LLC bought a new position in shares of Corning in the fourth quarter valued at approximately $30,000. Finally, Investment Management Corp VA ADV boosted its position in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 463 shares during the period. 69.80% of the stock is currently owned by institutional investors.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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