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GLW Corning Incorporated

Corning (www.corning.com) is one of the world's leading innovators in materials science, with a more than 165-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramic science, and optical physics along with its deep manufacturing and engineering capabilities to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.

Company profile

Ticker
GLW
Exchange
NYSE
Website
www.corning.com
CEO
Wendell P. Weeks
Employees
Incorporated in
New York
Location
New York
Fiscal year end
Dec 31
Sector
Electronic Technology > Electronic Components
Industry (SEC)
Drawing & Insulating of Nonferrous Wire
Belden • Asia Pacific Wire & Cable • Optical Cable • General Cable ...
SEC CIK
0000024741
Corporate docs
IRS number
160393470

GLW stock data

(
)

Calendar

5 May 20
2 Jul 20
31 Dec 20

News

Company financial data Financial data

Chart GLW financial data
Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 2.39B 2.82B 2.93B 2.94B
Net income -96M 32M 341M 105M
Diluted EPS -0.16 0.04 0.38 0.09
Net profit margin -4.02% 1.14% 11.62% 3.57%
Operating income -121M 147M 365M 374M
Net change in cash -409M 1.46B -207M -278M
Cash on hand 2.03B 2.43B 971M 1.18B
Cost of revenue 1.83B 1.96B 1.92B 1.88B
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 11.5B 11.29B 10.12B 9.39B
Net income 979M 1.09B -479M 3.71B
Diluted EPS 1.07 1.13 -0.66 3.23
Net profit margin 8.51% 9.65% -4.74% 39.46%
Operating income 1.31B 1.58B 1.61B 1.42B
Net change in cash 79M -1.96B -974M 791M
Cash on hand 2.43B 2.36B 4.32B 5.29B
Cost of revenue 7.47B 6.83B 6.1B 5.63B

Financial data from Corning earnings reports

Recent insider trades

GLW insider ownership history Insider history
Date Owner Security Transaction Code $Price #Shares $Value #Remaining
30 Jun 20 Burns Stephanie RSU Common Stock Grant Aquire A 25.9 960 24.86K 10,133
30 Jun 20 Blair Donald W RSU Common Stock Grant Aquire A 25.9 1,154 29.89K 34,459
30 Jun 20 Canning John A JR RSU Common Stock Grant Aquire A 25.9 450 11.66K 47,044
30 Jun 20 Cummings Robert F JR RSU Common Stock Grant Aquire A 25.9 1,297 33.59K 109,872
30 Jun 20 Henretta Deborah A RSU Common Stock Grant Aquire A 25.9 761 19.71K 28,589
Data from 3, 4 and 5 filings. Stock values as filed, not updated for current price.

Institutional ownership Q1 2020

GLW institutional ownership history Ownership history
72.9% owned by funds/institutions
13F holders
 Current Prev Q Change
Total holders 870 978 -11.0%
Opened positions 64 122 -47.5%
Closed positions 172 90 +91.1%
Increased positions 261 270 -3.3%
Reduced positions 386 415 -7.0%
13F shares
 Current Prev Q Change
Total value 169.7B 220.17B -22.9%
Total shares 554.7M 571.59M -3.0%
Total puts 2.77M 4.03M -31.3%
Total calls 3.63M 6.21M -41.5%
Total put/call ratio 0.8 0.6 +17.4%
Largest owners
 Shares Value Change
Vanguard 64.49M $1.32B +2.1%
BLK BlackRock 53.11M $1.09B -1.4%
Wellington Management 43.34M $890.3M +79.5%
STT State Street 37.56M $771.55M +0.7%
N Price T Rowe Associates 24.94M $512.33M -0.3%
AMP Ameriprise Financial 17.79M $365.23M -8.6%
State Farm Mutual Automobile Insurance 16.19M $332.46M 0.0%
Hotchkis & Wiley Capital Management 16.16M $331.92M -18.9%
Primecap Management 13.96M $286.74M -7.1%
Geode Capital Management 12.15M $249.25M +4.1%
Largest transactions
 Shares Bought/sold Change
Wellington Management 43.34M +19.19M +79.5%
Norges Bank 0 -7.99M EXIT
IVZ Invesco 9.84M +5.37M +120.3%
Hotchkis & Wiley Capital Management 16.16M -3.76M -18.9%
LSV Asset Management 4.19M -2.72M -39.4%
BAC Bank of America 6.2M -2.46M -28.4%
DB Deutsche Bank 1.42M -1.99M -58.4%
Schafer Cullen Capital Management 962.08K -1.93M -66.7%
JHG Janus Henderson 8.75M -1.92M -18.0%
AMP Ameriprise Financial 17.79M -1.68M -8.6%
Data from 13F filings. Stock values as filed, not updated for current price. Long positions only.

Financial report summary

?
Competition
Preformed Line Products • Westell • CommScope Holding • Ameritek Ventures
Content analysis ?
Positive
Negative
Uncertain
Constraining
Legalese
Litigous
Readability
8th grade Avg
New words: aggressive, appeal, appealing, appraiser, arrive, Asia, augmented, bioproduction, case, CECL, certainty, chain, confident, contagion, degree, discovery, disposal, disputed, drug, economy, ensuing, entered, exit, exiting, experienced, facilitate, factor, force, foregoing, free, goodwill, governmental, highest, highly, initiated, insufficient, labor, LCD, lifetime, loan, macroeconomic, medical, mobility, model, objective, originated, pandemic, permanently, preceding, Precision, predict, predicted, premium, prepayment, preserving, prevail, preventative, previously, proper, public, receipt, recurrence, refund, regularly, reinvested, relevant, serum, shut, shutdown, spread, standpoint, stewardship, suspended, sustained, temporary, tested, Topic, unpredictable, USD, vehicle, withdrawn, wrote
Removed: Account, acquisition, AOCI, audit, base, BEAT, beneficiary, capitalized, China, civil, claim, CMD, cohesive, commence, commenced, commencement, commitment, Comparative, concentrating, create, deliver, digit, emission, erosion, estate, Eurokera, extend, FASB, February, fewer, fiscal, formed, generating, grow, implicit, increasing, incurred, invest, investment, IRS, largely, lawsuit, leadership, lease, leased, leasing, lessor, leveraging, mix, moderate, October, offsetting, particulate, payable, plant, portfolio, practical, preliminary, quickly, real, recast, rental, repurpose, residual, restated, returning, ROU, ruling, scientific, shareholder, single, slightly, strategy, structure, Supplemental, unknown, weighted
From filing 10-Q 2020 Q1

Financial reports

View all
10-Q
2020 Q1
Quarterly report
5 May 20
10-K
2019 FY
Annual report
18 Feb 20
10-Q
2019 Q3
Quarterly report
30 Oct 19
10-Q
2019 Q2
Quarterly report
31 Jul 19
10-Q
2019 Q1
Quarterly report
3 May 19
10-K
2018 FY
Annual report
12 Feb 19
10-Q
2018 Q3
Quarterly report
24 Oct 18
10-Q
2018 Q2
Quarterly report
27 Jul 18
10-Q
2018 Q1
Quarterly report
26 Apr 18
10-K
2017 FY
Annual report
15 Feb 18

Current reports

View all
8-K
Departure of Directors or Certain Officers
20 May 20
8-K
Departure of Directors or Certain Officers
1 May 20
8-K
Corning Reports First-Quarter 2020 Results
28 Apr 20
8-K
Departure of Directors or Certain Officers
9 Apr 20
8-K
Amendments to Articles of Incorporation or Bylaws
30 Mar 20
8-K
Corning Reports Fourth-Quarter and Full-Year 2019 Financial Results and Affirms Outlook for Long-Term Growth
29 Jan 20
8-K
Other Events
19 Nov 19
8-K
Corning Reports Third-Quarter 2019 Financial Results Consistent with Management Expectations
29 Oct 19
8-K
Other Events
14 Aug 19
8-K
Corning Reports Strong Second-Quarter Results with Year-Over-Year Growth Across All Businesses
30 Jul 19

Registration and prospectus

View all
424B2
Prospectus for primary offering
15 Nov 19
FWP
Free writing prospectus
14 Nov 19
424B2
Prospectus for primary offering
14 Nov 19
424B2
Prospectus for primary offering
7 Aug 19
FWP
Free writing prospectus
6 Aug 19
424B2
Prospectus for primary offering
31 Jul 19
S-8
Registration of securities for employees
6 May 19
424B2
Prospectus for primary offering
1 Nov 18
FWP
Free writing prospectus
31 Oct 18
424B2
Prospectus for primary offering
30 Oct 18

Proxies

View all
DEFA14A
Additional proxy soliciting materials
10 Apr 20
DEFA14A
Additional proxy soliciting materials
30 Mar 20
DEFA14A
Additional proxy soliciting materials
20 Mar 20
DEF 14A
Definitive proxy
20 Mar 20
DEFA14A
Additional proxy soliciting materials
22 Mar 19
DEF 14A
Definitive proxy
22 Mar 19
DEF 14A
Definitive proxy
16 Mar 18
DEFA14A
Additional proxy soliciting materials
16 Mar 18
DEF 14A
Definitive proxy
17 Mar 17
DEF 14A
Definitive proxy
15 Mar 16

Other

View all
SD
Conflict minerals disclosure
29 May 20
SD
Conflict minerals disclosure
30 May 19
SD
Conflict minerals disclosure
30 May 18
SD
Conflict minerals disclosure
30 May 17
UPLOAD
Letter from SEC
13 Apr 17
CORRESP
Correspondence with SEC
7 Apr 17
UPLOAD
Letter from SEC
31 Mar 17
SD
Conflict minerals disclosure
31 May 16
SD
Conflict minerals disclosure
29 May 15
NO ACT
No action letter
11 Feb 15

Ownership

View all
4
CORNING / Kevin J Martin ownership change
2 Jul 20
4
CORNING / DEBORAH A HENRETTA ownership change
2 Jul 20
4
CORNING / ROBERT F CUMMINGS JR ownership change
2 Jul 20
4
CORNING / JOHN A CANNING JR ownership change
2 Jul 20
4
CORNING / STEPHANIE BURNS ownership change
2 Jul 20
4
CORNING / DONALD W BLAIR ownership change
2 Jul 20
4
CORNING / LEWIS A STEVERSON ownership change
17 Jun 20
4
CORNING / Eric S Musser ownership change
17 Jun 20
4/A
CORNING / David L Morse ownership change
17 Jun 20
4
CORNING / Lawrence D McRae ownership change
19 May 20

Patents

View all
APP
Utility
Light Guide-based Deadfront for Display, Related Methods and Vehicle Interior Systems
2 Jul 20
Embodiments of a deadfront article for a display are disclosed herein.
APP
Utility
Methods for Inspecting Cellular Articles
2 Jul 20
Methods of inspecting cellular articles such as cellular ceramic articles are disclosed, wherein the methods comprise characterizing a web structure from intensity values of a digital image.
APP
Utility
Doping of Other Polymers into Organic Semi-conducting Polymers
2 Jul 20
Disclosed is a polymer blend comprising an organic semiconductor (OSC) polymer blended with an isolating polymer and method for making the same.
APP
Utility
Wireless Communications Systems Supporting Selective Routing of Carrier Aggregation (Ca) and Multiple-input Multiple-output (Mimo) Data Streams
2 Jul 20
Wireless communications systems supporting selective routing of carrier aggregation (CA) and multiple-input multiple-output (MIMO) data streams are disclosed.
GRANT
Utility
Optical fiber with low fictive temperature
30 Jun 20
An optical fiber with low fictive temperature along with a system and method for making the optical fiber are provided.