Polar Capital Holdings Plc Cuts Stock Position in Corning Incorporated $GLW

Polar Capital Holdings Plc lowered its holdings in Corning Incorporated (NYSE:GLW) by 43.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,285,993 shares of the electronics maker’s stock after selling 1,725,160 shares during the period. Corning comprises 0.8% of Polar Capital Holdings Plc’s holdings, making the stock its 26th largest position. Polar Capital Holdings Plc’s holdings in Corning were worth $200,162,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new position in Corning in the fourth quarter worth $26,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the third quarter valued at $25,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the fourth quarter valued at $31,000. Finally, Evolution Wealth Management Inc. raised its stake in shares of Corning by 58.8% in the fourth 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 during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GLW. Truist Financial boosted their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. UBS Group boosted their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Stock Performance

NYSE:GLW opened at $177.34 on Wednesday. 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 52-week low of $49.97 and a 52-week high of $211.79. The firm has a market cap of $152.62 billion, a price-to-earnings ratio of 84.85, a PEG ratio of 2.69 and a beta of 1.15. The business’s fifty day moving average is $178.51 and its 200 day moving average is $135.42.

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

Corning Announces Dividend

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

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,561 in the last 90 days. 0.25% of the stock is owned by company insiders.

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.