Polar Capital Holdings Plc Has $200.16 Million Stock Position in Corning Incorporated $GLW

Polar Capital Holdings Plc lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 43.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,285,993 shares of the electronics maker’s stock after selling 1,725,160 shares during the period. Corning makes up about 0.8% of Polar Capital Holdings Plc’s holdings, making the stock its 26th biggest position. Polar Capital Holdings Plc owned 0.27% of Corning worth $200,162,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the third quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC acquired a new stake in Corning in the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. grew its stake in 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 acquiring an additional 141 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Down 5.6%

Shares of NYSE:GLW opened at $177.34 on Wednesday. The stock 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 company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $49.97 and a 12-month high of $211.79. The business’s 50 day moving average is $178.51 and its 200 day moving average is $135.42.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. 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 payout ratio is presently 53.59%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock valued at $30,692,561 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLW. UBS Group raised their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho raised their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Oppenheimer raised their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Finally, Truist Financial raised their price objective on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

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.