SIR Capital Management L.P. Reduces Position in Corning Incorporated $GLW

SIR Capital Management L.P. cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 49.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 89,806 shares of the electronics maker’s stock after selling 86,997 shares during the period. SIR Capital Management L.P.’s holdings in Corning were worth $7,863,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Corning during the fourth quarter valued at $438,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Corning by 13.5% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,112,418 shares of the electronics maker’s stock valued at $447,643,000 after buying an additional 607,848 shares during the last quarter. Polymer Capital Management HK LTD purchased a new stake in shares of Corning during the fourth quarter valued at $807,000. Korea Investment CORP boosted its position in shares of Corning by 109.7% during the fourth quarter. Korea Investment CORP now owns 1,016,375 shares of the electronics maker’s stock valued at $88,994,000 after buying an additional 531,752 shares during the last quarter. Finally, Pinpoint Asset Management Singapore Pte. Ltd. boosted its position in shares of Corning by 40.5% during the fourth quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 434 shares of the electronics maker’s stock valued at $38,000 after buying an additional 125 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Up 1.9%

Shares of NYSE:GLW opened at $179.85 on Friday. The stock has a market capitalization 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. The stock’s 50-day simple moving average is $177.15 and its two-hundred day simple moving average is $133.67. Corning Incorporated has a 52-week low of $49.47 and a 52-week high of $211.79.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $0.54 earnings per share. The business’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. Analysts expect 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. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Transactions at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,561. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Barclays raised their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $180.00 target price on Corning in a research report on Friday, May 8th. Bank of America raised their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Finally, Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target 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.