Corning, Inc (NYSE: GLW) is 55.27% higher on its value in year-to-date trading and has touched a low of $26.94 and a high of $51.03 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 $47.02 in the last trading session, with the day’s gains setting it 0.26%.
Currently trading at $47.28, the stock is 0.66% and 5.71% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 4.46 million and changing 0.55% at the moment leaves the stock 24.17% off its SMA200. GLW registered 69.28% gain for a year compared to 6-month gain of 41.47%. The firm has a 50-day simple moving average (SMA 50) of $44.6258 and a 200-day simple moving average (SMA200) of $37.9945.
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The stock witnessed a 7.19% loss in the last 1 month and extending the period to 3 months gives it a 24.91%, and is -3.57% 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 2.45% over the week and 2.38% over the month.
Corning, Inc (GLW) has around 49800 employees, a market worth around $40.48B and $12.61B in sales. Current P/E ratio is 264.43 and Fwd P/E is 20.46. Profit margin for the company is 1.24%. Distance from 52-week low is 75.50% and -7.35% from its 52-week high. The company has generated returns on investments over the last 12 months (0.82%).
with sales reaching $3.76B over the same period.The EPS is expected to grow by 14.70% this year, but quarterly earnings will post 5.60% year-over-year. Quarterly sales are estimated to grow 14.80% in year-over-year returns.
Corning, Inc (GLW) Top Institutional Holders
1627.0 institutions hold shares in Corning, Inc (GLW), with institutional investors hold 81.85% of the company’s shares. The shares outstanding are 820.00M, and float is at 775.89M with Short Float at 1.44%. Institutions hold 74.23% 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 STEVERSON LEWIS A, the company’s EVP and CLAO. SEC filings show that STEVERSON LEWIS A sold 16,079 shares of the company’s common stock on Nov 01 ’24 at a price of $48.15 per share for a total of $0.77 million. Following the sale, the insider now owns 16646.0 shares.
Corning, Inc disclosed in a document filed with the SEC on Oct 31 ’24 that WEEKS WENDELL P (Chairman and CEO) sold a total of 100,000 shares of the company’s common stock. The trade occurred on Oct 31 ’24 and was made at $48.36 per share for $4.84 million. Following the transaction, the insider now directly holds 0.86 million shares of the GLW stock.
Still, SEC filings show that on Oct 30 ’24, Schlesinger Edward A (Exec. Vice President and CFO) disposed off 21,948 shares at an average price of $48.07 for $1.06 million. The insider now directly holds 79,907 shares of Corning, Inc (GLW).
