Corning (NYSE:GLW) Stock Price Down 1% - Time to Sell?

Key Points

• Corning shares fell 1% to about $149.91, trading below both its 50-day and 200-day moving averages amid lower-than-average volume.
• Analysts maintain a “Moderate Buy” consensus, with 11 Buy ratings and five Holds; the average price target is $174.08, though several firms recently lowered their targets.
• Corning exceeded quarterly earnings and revenue expectations, with revenue rising 17.1% year over year, and declared a quarterly dividend of $0.28 per share, yielding approximately 0.7%.

Shares of Corning Incorporated (NYSE:GLW - Get Free Report) fell 1% during mid-day trading on Friday . The company traded as low as $148.05 and last traded at $149.91. 6,132,608 shares traded hands during mid-day trading, a decline of 52% from the average daily volume of 12,852,668 shares. The stock had previously closed at $151.45.

Analyst Ratings Changes

Several analysts have weighed in on GLW shares. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Morgan Stanley lowered their target price on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. UBS Group restated a "buy" rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Finally, Citigroup reduced their price target on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $174.08.

Corning Stock Down 1.0%

The stock's 50 day simple moving average is $175.43 and its two-hundred day simple moving average is $163.44. The firm has a market cap of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.95 and a beta of 1.14. 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 (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS 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 firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current 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 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio is currently 51.14%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by insiders.

Institutional Trading of Corning

Institutional investors and hedge funds have recently bought and sold shares of the company. Security National Bank raised its position in shares of Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after buying an additional 56,056 shares in the last quarter. Herbst Group LLC bought a new position in shares of Corning in the 2nd quarter valued at about $4,474,000. Principal Financial Group Inc. grew its position in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock worth $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its stake in Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC increased its stake in Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker's stock worth $1,642,000 after acquiring an additional 6,998 shares during the last quarter. 69.80% of the stock is currently 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.

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