CORNING INC /NY (GLW)

Corning, Inc. engages in the provision of glass for notebook computers, flat panel desktop monitors, display televisions, and other information display applications, carrier network and enterprise network products for the telecommunications industry, ceramic substrates for gasoline and diesel engines in automotive and heavy-duty vehicle markets, laboratory products for the scientific community and polymer products for biotechnology applications, optical materials for the semiconductor industry and the scientific community, and polycrystalline silicon products and other technologies. It operates through the following segments: Optical Communications, Display Technologies, Specialty Materials, Environmental Technologies, and Life Sciences. The Optical Communications segment is classified into two main product groupings: carrier and enterprise network. The carrier network group consists of products and solutions for optical-based communications infrastructure for services such as video, data, and voice communications. The enterprise network group consists primarily of optical-based communication networks sold to businesses, governments, and individuals for their own use. The Display Technologies segment manufactures glass substrates for flat panel displays, including organic light-emitting diodes and liquid crystal displays that are used primarily in televisions, notebook computer, desktop monitors, tablets, and handheld devices. The Specialty Materials segment is involved in the manufacture of products that provide material formulations for glass, glass ceramics and crystals, and precision metrology instruments and software. The Environmental Technologies segment focuses on manufacturing ceramic substrates and filter products for emissions control in mobile applications. The Life Sciences segment develops, manufactures, and supplies laboratory products. The company was founded by Amory Houghton Sr. in 1851 and is headquartered in Corning, NY.

Address

ONE RIVERFRONT PLAZA
CORNING, NY 14831

Founded

1851

Number of Employees

49,800

Buyback

Buyback Data 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Average
$ Amount Purchased
($ in 000s )
$2,513,757 $1,973,011 $2,945,953 $2,056,008 $1,883,799 $779,576 $116,582 $334,394 $270,220 $104,315 $58,881 $1,185,136
Average Price $19.83 $20.19 $20.22 $28.39 $29.50 $29.59 $25.22 $38.55 $36.35 $33.20 $31.96 $23.34
# Shares Purchased 126,780,120 97,717,118 145,668,530 72,410,958 63,857,489 26,343,334 4,622,700 8,673,837 7,434,554 3,141,899 1,842,508 50,772,095
Buyback Performance 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Average
Total Return to Date 111.8% 108.0% 107.7% 47.9% 42.4% 41.9% 66.5% 8.9% 15.6% 26.5% 31.4% 79.9%
S&P 500 Return to Date 181.9% 173.0% 168.6% 129.7% 104.9% 93.1% 74.8% 31.7% 37.3% 31.3% 7.4% 94.0%
Excess Total Return -70.0% -65.0% -60.9% -81.8% -62.5% -51.2% -8.3% -22.7% -21.7% -4.8% 24.0% -14.0%
Quartile Rank
Percentile Rank 61% 60% 61% 55% 55% 56% 63% 54% 60% 67% 89% 81%
*ASR price paid per share is unavailable, StockOcean uses average price paid per share of open market and privately negotiated purchases.
Buyback returns calculated using weighted average buyback price over the last 10 years and comparing to current day stock price value. S&P 500 used as benchmark for excess return.

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