On October 30, 2024, Eric Musser, President and Chief Operating Officer of Corning Inc (GLW, Financial), executed a significant stock transaction, selling 74,640 shares of the company. The transaction was filed with the SEC and can be viewed in detail through the SEC Filing. Following this sale, the insider now owns 182,944 shares of Corning Inc.
Corning Inc is renowned for its specialized glass, ceramics, and related materials and technologies, primarily for industrial and scientific applications. The company's products are essential in various sectors including consumer electronics, mobile emissions control, telecommunications, and life sciences.
Over the past year, the insider transaction history at Corning Inc shows a trend with 0 insider buys and 30 insider sells. This recent transaction by Eric Musser aligns with the ongoing pattern of insider behavior at the company.
Shares of Corning Inc were priced at $48.61 on the day of the transaction. This pricing places the company's market cap at approximately $41.33 billion. The price-earnings ratio of Corning Inc stands at 284.47, significantly higher than both the industry median of 22.69 and the company’s historical median.
According to the GF Value, the intrinsic value estimate for Corning Inc is $32.69 per share, making the stock Significantly Overvalued with a price-to-GF-Value ratio of 1.49.
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 interest investors tracking insider behaviors as an indicator of corporate confidence and potential future stock performance.
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.
