Eric Musser Sells 15,000 Shares of Corning (NYSE:GLW) Stock

Corning Incorporated (NYSE:GLW) insider Eric Musser sold 15,000 shares of Corning stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the completion of the sale, the insider owned 4,926 shares of the company’s stock, valued at approximately $641,611.50. The trade was a 75.28% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Corning Price Performance

Shares of NYSE GLW opened at $128.14 on Wednesday. The business has a fifty day moving average price of $94.81 and a two-hundred day moving average price of $83.49. The stock has a market capitalization of $109.86 billion, a PE ratio of 69.64, a P/E/G ratio of 2.28 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $132.50.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.Corning’s revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. Argus upped their price objective on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Oppenheimer set a $120.00 price target on shares of Corning in a research note on Thursday, January 29th. Barclays set a $100.00 price objective on shares of Corning in a research report on Thursday, January 29th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Finally, Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Nine research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $112.36.

Institutional Trading of Corning

A number of institutional investors have recently bought and sold shares of the company. Capital Research Global Investors bought a new stake in shares of Corning during the 3rd quarter valued at about $907,164,000. Norges Bank acquired a new position in Corning in the fourth quarter valued at approximately $921,435,000. WCM Investment Management LLC bought a new position in shares of Corning during the 3rd quarter worth approximately $676,931,000. Wellington Management Group LLP grew its position in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the period. Finally, Voya Investment Management LLC increased its stake in shares of Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after acquiring an additional 2,795,948 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

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.