Polymer Capital Management HK LTD Takes $807,000 Position in Corning Incorporated $GLW

Polymer Capital Management HK LTD bought a new position in Corning Incorporated (NYSE:GLW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 9,222 shares of the electronics maker’s stock, valued at approximately $807,000.

A number of other institutional investors have also added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the third quarter worth about $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning in the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter valued at about $26,000. Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the 4th quarter valued at about $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after buying an additional 141 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,561 over the last ninety days. Insiders own 0.25% of the company’s stock.

Corning Trading Up 1.9%

Shares of GLW opened at $179.85 on Friday. The firm has a market cap of $154.79 billion, a price-to-earnings ratio of 86.05, a PEG ratio of 2.53 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. The firm has a 50 day moving average price of $177.15 and a 200-day moving average price of $133.67.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Oppenheimer boosted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Citigroup boosted their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Finally, Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $178.31.

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.