Insider Trader Watch: Corning Incorporated (GLW)

Corning Incorporated (NYSE:GLW) insider has recently participated in insider trading activity. Vice Chairman & Corp. Dev. Off, McRae Lawrence D sold 34,000 shares for $630,441 via one transaction Feb 10. Another notable insider trading was done by FLAWS JAMES B on Feb 04, who is the VICE CHAIRMAN. The insider sold 69,519 shares at an average price of $18.50. Moreover, an insider selling of 28,437 shares was carried out by STEVERSON LEWIS A, Senior Vice President, on Dec 15. Following the transaction, the insider now owns 51,903 shares in total. Exec. VP & Innovation Officer Curran Martin J bought 35,820 shares for $597,137 through one transaction Sep 01. Following this sale, this insider’s stake in the company comprises 35,820 shares, priced at $658,729.8 as of Friday.

The stock has experienced a total of 30 insider trades in the past three months. These trades include 18 sell activities and 12 buy trades. Furthermore, over the past 12 months, the stock was traded 60 times by insiders. In 43 of these trades, the insider was a seller while an employee of the company was the buyer in just 17 instances.

On February 9, 2016 Corning Incorporated (GLW) and Altechna R&D (Workshop of Photonics) announced that they have entered into a joint development agreement to develop new laser glass processing technologies.

“The emerging opportunities for ultra-strong, ultrathin, and ultraclean glass processing solutions, along with a need for greater glass processing efficiencies, are driving the demand for laser processing technologies. We believe this strategic relationship with Workshop of Photonics will enhance our ability to deliver innovative laser processing solutions for glass,” said Michael Müller, managing director of Corning Laser Technologies.

“This strategic partnership with the global specialty glass production leader is recognition of the unique glass processing laser technology developed by Workshop of Photonics,” said Gintas Šlekys, board chairman of Altechna R&D (Workshop of Photonics). “We see this as a great opportunity to grow alongside Corning Incorporated by providing laser application R&D services.”

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials worldwide. The company operates through five segments: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. The Display Technologies segment manufactures glass substrates for liquid crystal displays (LCDs) used in LCD televisions, notebook computers, and flat panel desktop monitors. The Optical Communications segment manufactures optical fiber and cable; and hardware and equipment products comprising cable assemblies, fiber optic hardware and connectors, optical components and couplers, closures, network interface devices, and other accessories. This segment also provides subscriber demarcation, connection and protection devices, passive solutions, and outside plant enclosures; and coaxial RF interconnects for the cable television industry.