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Insider Sale: Senior Vice President & CDIO Soumya Seetharam Sells 23,291 Shares of Corning ...

On May 9, 2024, Soumya Seetharam, Senior Vice President & Chief Digital and Information Officer of Corning Inc (NYSE:GLW), sold 23,291 shares of the company. The transaction was documented in a recent SEC Filing. This sale is part of a pattern observed over the past year, where the insider has sold a total of 23,291 shares and made no purchases.

Corning Inc (NYSE:GLW) specializes in materials science, with a focus on manufacturing and engineering glass, ceramics, and related materials for industrial and scientific applications. The company's products are integral to the sectors of display technology, optical communications, automotive technology, and life sciences.

On the date of the sale, shares of Corning Inc were priced at $34.01, resulting in a market cap of approximately $29.27 billion. The price-earnings ratio of the company stood at 48.13, significantly above both the industry median and the company's historical median.

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The stock's valuation, according to GF Value, is set at $31.08, suggesting that at a trading price of $34.01, Corning Inc is Fairly Valued with a price-to-GF-Value ratio of 1.09.

Insider Sale: Senior Vice President & CDIO Soumya Seetharam Sells 23,291 Shares of Corning Inc (GLW)
Insider Sale: Senior Vice President & CDIO Soumya Seetharam Sells 23,291 Shares of Corning Inc (GLW)

The GF Value is calculated considering historical trading multiples like 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.

Over the past year, there have been no insider buys and 20 insider sells at Corning Inc, indicating a trend of insider sales.

Insider Sale: Senior Vice President & CDIO Soumya Seetharam Sells 23,291 Shares of Corning Inc (GLW)
Insider Sale: Senior Vice President & CDIO Soumya Seetharam Sells 23,291 Shares of Corning Inc (GLW)

This recent transaction by the insider aligns with the ongoing trend of insider sales at Corning Inc, providing an interesting point of observation for investors and market watchers.

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.