Dumont Blake Investment Advisors Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Dumont Blake Investment Advisors reduced its stake in Corning Incorporated by 1.14% during the most recent quarter end. The investment management company now holds a total of 42,419 shares of Corning Incorporated which is valued at $890,375 after selling 489 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Corning Incorporated makes up approximately 0.46% of Dumont Blake Investment Advisors’s portfolio.

Corning Incorporated opened for trading at $19.23 and hit $19.4 on the upside on Wednesday, eventually ending the session at $19.3, with a gain of 0.42% or 0.08 points. The heightened volatility saw the trading volume jump to 1,85,57,464 shares. Company has a market cap of $21,478 M.

Other Hedge Funds, Including , Old Second National Bank Of Aurora sold out all of its stake in GLW during the most recent quarter. The investment firm sold 100 shares of GLW which is valued $2,099.Lebenthal Holdingsllc boosted its stake in GLW in the latest quarter, The investment management firm added 2,208 additional shares and now holds a total of 20,470 shares of Corning Incorporated which is valued at $429,665. Corning Incorporated makes up approx 0.07% of Lebenthal Holdingsllc’s portfolio.Blb&b Advisors boosted its stake in GLW in the latest quarter, The investment management firm added 4,027 additional shares and now holds a total of 424,738 shares of Corning Incorporated which is valued at $8,915,251. Corning Incorporated makes up approx 1.76% of Blb&b Advisors’s portfolio.Bridge Creek Capital Management boosted its stake in GLW in the latest quarter, The investment management firm added 1,680 additional shares and now holds a total of 103,110 shares of Corning Incorporated which is valued at $2,157,061. Corning Incorporated makes up approx 1.24% of Bridge Creek Capital Management’s portfolio.Stillwater Capital Advisors boosted its stake in GLW in the latest quarter, The investment management firm added 220,812 additional shares and now holds a total of 505,214 shares of Corning Incorporated which is valued at $10,569,077. Corning Incorporated makes up approx 3.07% of Stillwater Capital Advisors’s portfolio.

On the company’s financial health, Corning Incorporated reported $0.28 EPS for the quarter, based on the information available during the earnings call on Apr 26, 2016. Analyst had a consensus estimate of $0.28. The company had revenue of $2170.00 million for the quarter, compared to analysts expectations of $2237.22 million. The company’s revenue was down -10.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.35 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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