Investors Purchase Large Volume of Call Options on Corning (NYSE:GLW)

Corning Incorporated (NYSE:GLW) was the target of unusually large options trading on Tuesday. Investors purchased 50,325 call options on the stock. This is an increase of 99% compared to the typical daily volume of 25,329 call options.

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president directly owned 3,461 shares in the company, valued at approximately $450,691.42. This trade represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Li Fang sold 9,797 shares of Corning stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 95,687 shares of company stock worth $11,249,008. 0.32% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corning

Institutional investors and hedge funds have recently modified their holdings of the stock. Capital Research Global Investors purchased a new stake in shares of Corning during the third quarter valued at $907,164,000. Norges Bank bought a new stake in Corning during the 4th quarter valued at about $921,435,000. WCM Investment Management LLC purchased a new stake in Corning in the 3rd quarter valued at about $676,931,000. Wellington Management Group LLP grew 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 acquiring an additional 3,848,540 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after acquiring an additional 2,795,948 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLW. Susquehanna increased their price objective on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. HSBC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Finally, Mizuho set a $145.00 price target on Corning in a report on Monday. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $121.25.

Corning Stock Performance

NYSE:GLW opened at $145.08 on Tuesday. The company has a market cap of $124.47 billion, a price-to-earnings ratio of 78.85, a PEG ratio of 2.42 and a beta of 1.13. Corning has a 1 year low of $37.31 and a 1 year high of $148.70. The stock’s 50 day simple moving average is $102.97 and its two-hundred day simple moving average is $88.05. 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 (NYSE:GLW) last posted its 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. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the company earned $0.57 EPS. The company’s quarterly revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities analysts anticipate that Corning will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s dividend payout ratio is currently 60.87%.

Corning Company Profile

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.