On October 30, 2024, Edward Schlesinger, the Executive Vice President and Chief Financial Officer of Corning Inc (GLW, Financial), executed a sale of 21,948 shares of the company. The transaction was documented in a recent SEC Filing. Following this sale, the insider now owns 79,907 shares of Corning Inc.
Corning Inc is known for its specialized glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications. The company plays a significant role in various industries, ranging from consumer electronics to automotive technology.
Over the past year, Edward Schlesinger has sold a total of 21,948 shares and has not made any purchases of the company's stock. This recent transaction follows a pattern observed within the company, where insider activity has predominantly been sales. In the past year, there have been 30 insider sales and no insider buys.
Shares of Corning Inc were priced at $48.07 on the day of the sale. The company's market cap is approximately $41.33 billion. Corning Inc's price-earnings ratio stands at 284.47, significantly higher than both the industry median of 22.69 and the company's historical median.
The stock's valuation metrics show a GF Value of $32.69, indicating that at a price of $48.07, Corning Inc is significantly overvalued with a price-to-GF-Value ratio of 1.47.
The GF Value is calculated considering historical trading multiples such as the price-earnings ratio, price-sales ratio, price-book ratio, and price-to-free cash flow, along with a GuruFocus adjustment factor based on past returns and growth, and future business performance estimates from Morningstar analysts.
This sale by the insider may be of interest to current and potential investors, providing insight into insider confidence and valuation perspectives at Corning Inc.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
