Corning Incorporated (NYSE:GLW) reached 19.08% versus a 1-year low price of $27.67. The stock was last seen -1.05% lower, reaching at $32.95 on 7/17/2019. At a recent session, the prices were hovering between $32.66 and $33.21. This company shares are 11.59% off its target price of $36.77 and the current market capitalization stands at $26.01B. The recent change has given its price a 4.82% lead over SMA 50 and -9.87% deficit over its 52-week high. The stock witnessed 5.04% gains, -5.53% declines and 9.47% gains for the 1-month, 3-month and 6-month period, respectively. To measure price-variation, we found GLW’s volatility during a week at 1.3% and during a month it has been found around 1.5%.
What Does Corning Incorporated (GLW) Do?
The company describes itself in regulatory filings as, “Corning, Inc. develops and manufactures specialty glass and ceramics. It provides glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications; carrier network and enterprise network products for the telecommunications industry; ceramic substrates for gasoline and diesel engines in automotive and heavy duty vehicle markets; laboratory products for the scientific community and specialized polymer products for biotechnology applications; advanced optical materials for the semiconductor industry and the scientific community; and other technologies. It operates through the following five business segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials and Life Sciences. The Display Technologies segment manufactures glass substrates for high performance displays, including organic light-emitting diode and liquid crystal displays that are used primarily in televisions, notebook computers and flat panel desktop monitors. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists primarily of products and solutions for optical-based communications infrastructure for services such as video, data and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments and individuals for their own use. The Environmental Technologies segment manufactures ceramic substrates and filter products for emissions control in mobile and stationary applications around the world. The Specialty Materials segment manufactures products that provide material formulations for glass, glass ceramics and fluoride crystals to meet demand for unique customer needs. The Life Sciences segment develops, manufactures and supplies scientific laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.” [Text can be found here: https://www.marketwatch.com/investing/stock/GLW/profile under company description.]Corning Incorporated (GLW) Top Holders
Institutional investors currently hold around $18.74 billion or 73.4% in GLW stock. Look at its top three institutional owners: Vanguard Group Inc owns $2.08 billion in Corning Incorporated, which represents roughly 7.99% of the company’s market cap and approximately 11.09% of the institutional ownership. Similar statistics are true for the second largest owner, Blackrock Inc., which owns 53,814,951 shares of the stock are valued at $1.79 billion. The third largest holder is State Street Corp, which currently holds $1.24 billion worth of this stock and that ownership represents nearly 4.78% of its market capitalization.Corning Incorporated 13F Filings
At the end of March reporting period, 431 institutional holders increased their position in Corning Incorporated (NYSE:GLW) by some 28,970,317 shares, 468 decreased positions by 34,724,309 and 201 held positions by 498,983,200. That puts total institutional holdings at 562,677,826 shares, according to SEC filings. The stock grabbed 99 new institutional investments totaling 6,675,912 shares while 55 institutional investors sold out their entire positions totaling 1,953,684 shares.Corning Incorporated (NYSE:GLW) Insider Trades
Multiple company employees have indulged in significant insider trading. Corning Incorporated disclosed in a document filed with the US Securities and Exchange Commission (SEC) that Exec. VP, People and Digital Pambianchi Christine M has sold 194,960 shares of Corning Incorporated (GLW) in the trading session dated Jun. 18, 2019. These shares are worth $6,207,526 and were traded at $31.84 each. The SEC filing shows that Morse David L performed a sale of 36,664 shares. The Exec. VP & Chief Tech. Officer disposed these shares by way of transaction on Feb. 25, 2019. The company’s shares were given away at $35 per share worth to an income of some $1,283,240 to the account of Morse David L.
Exec VP, Corning Tech. & Intl., Musser Eric S, sold 33,023 common shares of Corning Incorporated (GLW) in the open market. In a transaction dated Feb. 15, 2019, the shares were put up for sale at an average price of $34.29, raking in a sum of $1,132,359. After this sale, 50,837 common shares of GLW are directly owned by the insider, with total stake valued at $1,675,079.
In the transaction dated Feb. 14, 2019, a great number of shares sold came courtesy the Chairman, CEO & President; WEEKS WENDELL P disposed a total of 223,379 shares at an average price of $33.77, amounting to approximately $7,543,509. The insider now directly owns 813,869 shares worth $26,816,994.Corning Incorporated (GLW) Analyst Guide
Several analysts have released their opinion on Corning Incorporated (NYSE:GLW), with 5 analysts believing it is a strong buy. Whereas 6 of them predict the stock is a hold. Also, there are 1 buy, 0 sell and 0 strong sell ratings, collectively assigning a 2.08 average brokerage recommendation [T1].