Wendell Weeks Sells 100,000 Shares of Corning (NYSE:GLW) Stock

Corning Incorporated (NYSE:GLW) CEO Wendell Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Corning Trading Down 3.3%

NYSE GLW opened at $168.28 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $144.83 billion, a price-to-earnings ratio of 80.52, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. The company’s 50-day simple moving average is $175.58 and its two-hundred day simple moving average is $132.65. Corning Incorporated has a one year low of $49.47 and a one year high of $211.79.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $0.54 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is presently 53.59%.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on GLW. Mizuho lifted their price objective on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Oppenheimer lifted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Bank of America lifted their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $178.31.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a multiyear, multibillion-dollar agreement with Amazon to supply optical fiber, cable, and connectivity for U.S. data centers, strengthening its position in AI infrastructure and supporting future revenue growth. Corning strikes another multibillion-dollar AI deal. What the new Amazon pact means for the stock
• Positive Sentiment: Commentary says Corning is benefiting from strong demand in optical communications as hyperscalers shift away from legacy copper toward fiber, which could improve Corning’s growth outlook and earnings estimates. Corning (GLW) Gained from Robust Demand in Optical Communications
• Positive Sentiment: Corning’s first-quarter results were solid, with revenue and EPS both edging above estimates and optical communications sales growing quickly, helping support the bullish AI narrative. Why Corning (GLW) Is Up 6.1% After Amazon’s Multiyear US Data Center Fiber Deal And What’s Next
• Positive Sentiment: Analysts continue to highlight Corning as a beneficiary of AI data center spending, with multiple recent price-target increases reinforcing the stock’s longer-term upside case. Corning Is Paving AI’s Future With Glass
• Neutral Sentiment: CEO Wendell P. Weeks sold 100,000 shares, which may create some investor caution, but the sale appears routine and does not by itself change Corning’s operating outlook. SEC Form 4
• Negative Sentiment: One Seeking Alpha piece argued Corning’s strong growth may not be enough to prevent underperformance, adding a bearish note that could temper enthusiasm after the recent rally. Corning’s Monumental Growth Won’t Save It From Underperformance (Downgrade)

Institutional Trading of Corning

A number of institutional investors have recently bought and sold shares of GLW. Capital Research Global Investors acquired a new stake in Corning in the 3rd quarter worth approximately $907,164,000. Norges Bank acquired a new stake in Corning in the 4th quarter worth approximately $921,435,000. Wellington Management Group LLP boosted its stake in Corning by 30.3% in 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 purchasing an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc lifted its stake in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in shares of Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.