Blb&b Advisors Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Blb&b Advisors reduced its stake in Corning Incorporated by 0.03% during the most recent quarter end. The investment management company now holds a total of 424,608 shares of Corning Incorporated which is valued at $9,175,779 after selling 130 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Jul 19, 2016.Corning Incorporated makes up approximately 1.68% of Blb&b Advisors’s portfolio.

Other Hedge Funds, Including , Charter Trust Co reduced its stake in GLW by selling 2,705 shares or 5.27% in the most recent quarter. The Hedge Fund company now holds 48,591 shares of GLW which is valued at $1,050,052. Corning Incorporated makes up approx 0.12% of Charter Trust Co’s portfolio.Gulf International Bank (uk) Ltd reduced its stake in GLW by selling 8,400 shares or 2.36% in the most recent quarter. The Hedge Fund company now holds 347,181 shares of GLW which is valued at $7,419,258. Corning Incorporated makes up approx 0.12% of Gulf International Bank (uk) Ltd’s portfolio.British Columbia Investment Management Corp reduced its stake in GLW by selling 53,765 shares or 9.12% in the most recent quarter. The Hedge Fund company now holds 535,601 shares of GLW which is valued at $11,199,417. Corning Incorporated makes up approx 0.10% of British Columbia Investment Management Corp’s portfolio.

Corning Incorporated opened for trading at $21.39 and hit $21.65 on the upside on Wednesday, eventually ending the session at $21.61, with a gain of 1.36% or 0.29 points. The heightened volatility saw the trading volume jump to 48,90,980 shares. Company has a market cap of $23,238 M.

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 Initiated by Citigroup to “Buy” on Jun 20, 2016. Corning Incorporated was Downgraded by Standpoint Research to ” Hold” on Jun 13, 2016. Corning Incorporated was Downgraded by Drexel Hamilton to ” Sell” on Jun 10, 2016.

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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