Yahoo Finance Insider Sale: Exec. VP & Chief Strategy Officer Jeffrey Evenson Sells 12,830 Shares of ...
On June 5, 2024, Jeffrey Evenson, Executive Vice President and Chief Strategy Officer of Corning Inc (NYSE:GLW), sold 12,830 shares of the company. The transaction was executed at a price of $37.39 per share, as detailed in the SEC Filing. Following this sale, the insider now owns 57,280 shares of Corning Inc.
Corning Inc is a technology company specializing in specialty glass, ceramics, and related materials and technologies including advanced optics, primarily for industrial and scientific applications. The company operates globally, providing products that are essential in industries ranging from consumer electronics to telecommunications and life sciences.
Over the past year, Jeffrey Evenson has sold a total of 116,267 shares of Corning Inc and has not made any purchases of the stock. This recent transaction is part of a broader trend observed over the past year, where there have been 20 insider sells and no insider buys at Corning Inc.
Shares of Corning Inc were trading at $37.39 on the day of the sale, giving the company a market cap of approximately $32.04 billion. The price-earnings ratio of the company stands at 52.68, which is higher than both the industry median of 23.55 and the company's historical median.
The stock's GF Value is estimated at $31.42, indicating that with a price-to-GF-Value ratio of 1.19, Corning Inc is considered modestly overvalued. The GF Value is calculated based on historical trading multiples, an adjustment factor based on past returns and growth, and future business performance estimates from analysts.
This insider sale might interest investors tracking insider behaviors as an indicator of potential stock performance, particularly in the context of the company's valuation and market trends.
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.
This article first appeared on GuruFocus.
