Polymer Capital Management HK LTD Takes $4.64 Million Position in Corning Incorporated $GLW

Polymer Capital Management HK LTD bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,172 shares of the electronics maker's stock, valued at approximately $4,642,000.

Several other hedge funds also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC purchased a new position in shares of Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the second quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at about $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms recently issued reports on GLW. Citigroup cut their price target on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Susquehanna lifted their target price on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Finally, Barclays lowered their price objective on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $174.08.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business'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. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 0.0%

NYSE:GLW opened at $149.91 on Monday. The firm has a market cap of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.92 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock's 50 day simple moving average is $174.83 and its 200-day simple moving average is $163.72. Corning Incorporated has a 12-month low of $65.09 and a 12-month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the company earned $0.60 earnings per share. The company's revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The company 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 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio (DPR) is 51.14%.

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.

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