Oppenheimer Close Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Oppenheimer Close reduced its stake in Corning Incorporated by 0.7% during the most recent quarter end. The investment management company now holds a total of 357,147 shares of Corning Incorporated which is valued at $8,167,952 after selling 2,500 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Corning Incorporated makes up approximately 7.42% of Oppenheimer Close’s portfolio.

Other Hedge Funds, Including , J.safra Asset Management Corp added GLW to its portfolio by purchasing 470 company shares during the most recent quarter which is valued at $10,749. Corning Incorporated makes up approx 0.02% of J.safra Asset Management Corp’s portfolio. Capital Advantage sold out all of its stake in GLW during the most recent quarter. The investment firm sold 50,000 shares of GLW which is valued $1,146,000.Financial Architects Inc boosted its stake in GLW in the latest quarter, The investment management firm added 18 additional shares and now holds a total of 8,500 shares of Corning Incorporated which is valued at $182,665. Corning Incorporated makes up approx 0.05% of Financial Architects Inc’s portfolio.Rockefeller Financial Services Inc reduced its stake in GLW by selling 2,077 shares or 2.11% in the most recent quarter. The Hedge Fund company now holds 96,181 shares of GLW which is valued at $2,082,319. Corning Incorporated makes up approx 0.04% of Rockefeller Financial Services Inc’s portfolio.Coastline Trust Co reduced its stake in GLW by selling 470 shares or 0.89% in the most recent quarter. The Hedge Fund company now holds 52,300 shares of GLW which is valued at $1,130,203. Corning Incorporated makes up approx 0.22% of Coastline Trust Co’s portfolio.

Corning Incorporated opened for trading at $22.59 and hit $22.88 on the upside on Monday, eventually ending the session at $22.69, with a gain of 0.69% or 0.155 points. The heightened volatility saw the trading volume jump to 84,85,539 shares. Company has a market cap of $23,527 M.

On the company’s financial health, Corning Incorporated reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.32. The company had revenue of $2360.00 million for the quarter, compared to analysts expectations of $2377.57 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 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.

Leave a Reply

Corning Incorporated - Is it time to Sell?

Top Brokerage Firms are advising their investors on Corning Incorporated. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.