Barry Investment Advisors Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Barry Investment Advisors reduced its stake in Corning Incorporated by 0.81% during the most recent quarter end. The investment management company now holds a total of 540,843 shares of Corning Incorporated which is valued at $11,352,295 after selling 4,436 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Apr 19, 2016.Corning Incorporated makes up approximately 3.53% of Barry Investment Advisors’s portfolio.

Corning Incorporated opened for trading at $20.69 and hit $21.12 on the upside on Friday, eventually ending the session at $20.99, with a gain of 0.91% or 0.19 points. The heightened volatility saw the trading volume jump to 59,01,783 shares. Company has a market cap of $23,358 M.

Other Hedge Funds, Including , Integral Derivatives boosted its stake in GLW in the latest quarter, The investment management firm added 469 additional shares and now holds a total of 46,136 shares of Corning Incorporated which is valued at $965,165. Corning Incorporated makes up approx 0.39% of Integral Derivatives’s portfolio.Exxonmobil Investment Management Inc Tx boosted its stake in GLW in the latest quarter, The investment management firm added 5,793 additional shares and now holds a total of 270,949 shares of Corning Incorporated which is valued at $5,668,253. Corning Incorporated makes up approx 0.13% of Exxonmobil Investment Management Inc Tx’s portfolio.Partnerre Asset Management Corp reduced its stake in GLW by selling 483 shares or 6.05% in the most recent quarter. The Hedge Fund company now holds 7,494 shares of GLW which is valued at $154,526. Corning Incorporated makes up approx 0.08% of Partnerre Asset Management Corp’s portfolio.Foundation Resource Management Inc reduced its stake in GLW by selling 10,324 shares or 1.0% in the most recent quarter. The Hedge Fund company now holds 1,024,273 shares of GLW which is valued at $21,120,509. Corning Incorporated makes up approx 4.26% of Foundation Resource Management Inc’s portfolio.

On the company’s financial health, Corning Incorporated reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $0.31. The company had revenue of $2400.00 million for the quarter, compared to analysts expectations of $2326.91 million. The company’s revenue was down -4.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 EPS.

Many Wall Street Analysts have commented on Corning Incorporated. Corning Incorporated was Upgraded by Goldman to ” Buy” on Apr 12, 2016. Company shares were Reiterated by Deutsche Bank on Apr 8, 2016 to “Buy”, Firm has raised the Price Target to $ 23 from a previous price target of $21 .

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. The Company creates and makes keystone components that enable systems for consumer electronics mobile emissions control optical communications and life sciences. Corning operates in five segments: Display Technologies which manufactures glass substrates; Optical Communications which is engaged in providing optical solutions; Environmental Technologies which manufactures ceramic substrates and filter products; Specialty Materials which manufactures products that provide more than 150 material formulations for glass glass ceramics and fluoride crystals and Life Sciences segment which is a developer manufacturer and supplier of scientific laboratory products. The Company manufactures and processes products at approximately 90 plants in 17 countries.

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