Polymer Capital Management HK LTD Makes New $4.64 Million Investment in Corning Incorporated $GLW

Polymer Capital Management HK LTD purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 18,172 shares of the electronics maker’s stock, valued at approximately $4,642,000.

Other large investors have also made changes to their positions in the company. Berbice Capital Management LLC purchased a new stake in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter worth about $26,000. Atwood & Palmer Inc. purchased a new position in Corning in the second quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning during the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the 4th quarter valued at approximately $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, 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 position. The sale was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Citigroup lowered their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley dropped their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

Shares of NYSE:GLW opened at $149.91 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The business’s fifty day moving average price is $174.83 and its two-hundred day moving average price is $163.72. The stock has a market cap of $129.13 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Corning Incorporated has a one year low of $65.09 and a one year high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s payout ratio is 51.14%.

Corning 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.