Corning, Inc. (NYSE: GLW) is 46.27% higher on its value in year-to-date trading and has touched a low of $25.26 and a high of $46.39 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The GLW stock was last observed hovering at around $45.15 in the last trading session, with the day’s loss setting it -0.61%.
Currently trading at $44.54, the stock is 3.49% and 6.67% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 3.75 million and changing -1.35% at the moment leaves the stock 23.75% off its SMA200. GLW registered 46.18% gain for a year compared to 6-month gain of 37.00%. The firm has a 50-day simple moving average (SMA 50) of $41.7578 and a 200-day simple moving average (SMA200) of $36.0675.
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The stock witnessed a 6.43% loss in the last 1 month and extending the period to 3 months gives it a 16.02%, and is -1.66% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.54% over the week and 1.85% over the month.
Corning, Inc. (GLW) has around 49800 employees, a market worth around $38.11B and $12.39B in sales. Current P/E ratio is 87.88 and Fwd P/E is 19.65. Profit margin for the company is 3.53%. Distance from 52-week low is 76.33% and -3.99% from its 52-week high. The company has generated returns on investments over the last 12 months (2.39%).
with sales reaching $3.72B over the same period.The EPS is expected to grow by 12.51% this year, but quarterly earnings will post 5.00% year-over-year. Quarterly sales are estimated to grow 6.10% in year-over-year returns.
Corning, Inc. (GLW) Top Institutional Holders
1597.0 institutions hold shares in Corning, Inc. (GLW), with institutional investors hold 81.59% of the company’s shares. The shares outstanding are 820.00M, and float is at 775.89M with Short Float at 1.38%. Institutions hold 73.98% of the Float.
The top institutional shareholder in the company is VANGUARD GROUP INC with over 98.17 million shares valued at $3.81 billion. The investor’s holdings represent 11.5224% of the GLW Shares outstanding. As of 2024-06-30, the second largest holder is BLACKROCK INC. with 62.16 million shares valued at $2.41 billion to account for 7.2954 of the shares outstanding. The other top investors are WELLINGTON MANAGEMENT GROUP LLP which holds 39.09 million shares representing 4.5883% and valued at over $1.52 billion, while STATE STREET CORP holds 3.8428 of the shares totaling 32.74 million with a market value of $1.27 billion.
Corning, Inc. (GLW) Insider Activity
The most recent transaction is an insider sale by Bayne John P JR, the company’s Retired Senior Vice President. SEC filings show that Bayne John P JR sold 5,000 shares of the company’s common stock on Sep 13 ’24 at a price of $42.50 per share for a total of $0.21 million. Following the sale, the insider now owns 11700.0 shares.
Still, SEC filings show that on Aug 27 ’24, Bayne John P JR (Retired Senior Vice President) disposed off 7,774 shares at an average price of $42.03 for $0.33 million. The insider now directly holds 1,042 shares of Corning, Inc. (GLW).
