Corning, Inc (NYSE: GLW) is -1.62% lower on its value in year-to-date trading and has touched a low of $30.72 and a high of $55.33 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The GLW stock was last observed hovering at around $45.60 in the last trading session, with the day’s gains setting it 1.15%.
Currently trading at $46.75, the stock is -3.80% and -5.97% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.45 million and changing 2.52% at the moment leaves the stock 3.47% off its SMA200. GLW registered 42.14% gain for a year compared to 6-month gain of 11.71%. The firm has a 50-day simple moving average (SMA 50) of $49.7184 and a 200-day simple moving average (SMA200) of $45.1819.
The stock witnessed a -10.11% loss in the last 1 month and extending the period to 3 months gives it a -3.35%, and is 1.79% up 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 2.75% over the week and 2.85% over the month.
Corning, Inc (GLW) has around 56300 employees, a market worth around $40.04B and $13.12B in sales. Current P/E ratio is 80.08 and Fwd P/E is 17.32. Profit margin for the company is 3.86%. Distance from 52-week low is 52.18% and -15.51% from its 52-week high. The company has generated returns on investments over the last 12 months (2.76%).
The EPS is expected to grow by 19.42% this year.
Corning, Inc (GLW) Top Institutional Holders
1825.0 institutions hold shares in Corning, Inc (GLW), with institutional investors hold 80.10% of the company’s shares. The shares outstanding are 813.00M, and float is at 779.50M with Short Float at 1.56%. Institutions hold 72.93% 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 WEEKS WENDELL P, the company’s Chairman and CEO. SEC filings show that WEEKS WENDELL P sold 55,831 shares of the company’s common stock on Feb 28 ’25 at a price of $50.11 per share for a total of $2.8 million. Following the sale, the insider now owns 0.76 million shares.
Corning, Inc disclosed in a document filed with the SEC on Feb 27 ’25 that WEEKS WENDELL P (Chairman and CEO) sold a total of 44,169 shares of the company’s common stock. The trade occurred on Feb 27 ’25 and was made at $50.04 per share for $2.21 million. Following the transaction, the insider now directly holds 0.82 million shares of the GLW stock.
Still, SEC filings show that on Feb 27 ’25, Wendell P. Weeks (Chairman and CEO) Proposed Sale 100,000 shares at an average price of $50.15 for $5.01 million. The insider now directly holds shares of Corning, Inc (GLW).
