SIR Capital Management L.P. Sells 86,997 Shares of Corning Incorporated $GLW

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

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the 3rd quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC bought a new stake in Corning during the 4th quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. raised its stake in 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 purchasing an additional 141 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on GLW shares. JPMorgan Chase & Co. lifted their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Truist Financial lifted 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. HSBC reissued a “buy” rating and set a $135.00 target price on shares of Corning in a research note on Friday, February 13th. Citigroup lifted their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Bank of America lifted their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $178.31.

Corning Stock Performance

NYSE GLW opened at $179.85 on Friday. The stock has a market capitalization of $154.79 billion, a PE ratio of 86.05, a P/E/G ratio of 2.53 and a beta of 1.15. The business has a 50 day simple moving average of $177.15 and a two-hundred day simple moving average of $133.67. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 1-year low of $49.47 and a 1-year high of $211.79.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during 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%.The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade 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, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock worth $30,692,561 over the last three months. 0.25% of the stock is owned by company insiders.

Corning Company 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.