Corning Incorporated (GLW) : First Mercantile Trust Co reduced its stake in Corning Incorporated by 18.01% during the most recent quarter end. The investment management company now holds a total of 64,638 shares of Corning Incorporated which is valued at $1,537,092 after selling 14,197 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.Corning Incorporated makes up approximately 0.21% of First Mercantile Trust Co’s portfolio.
Other Hedge Funds, Including , Advisory Services Network boosted its stake in GLW in the latest quarter, The investment management firm added 27 additional shares and now holds a total of 27,630 shares of Corning Incorporated which is valued at $657,041. Corning Incorporated makes up approx 0.13% of Advisory Services Network’s portfolio.Chevy Chase Trust Holdings reduced its stake in GLW by selling 52,831 shares or 4.74% in the most recent quarter. The Hedge Fund company now holds 1,060,812 shares of GLW which is valued at $25,247,326. Corning Incorporated makes up approx 0.14% of Chevy Chase Trust Holdings’s portfolio. Cardinal Capital Management added GLW to its portfolio by purchasing 398 company shares during the most recent quarter which is valued at $9,472.Telemus Capital boosted its stake in GLW in the latest quarter, The investment management firm added 9,739 additional shares and now holds a total of 31,314 shares of Corning Incorporated which is valued at $745,273. Corning Incorporated makes up approx 0.08% of Telemus Capital’s portfolio.
Corning Incorporated closed down -0.09 points or -0.38% at $23.78 with 85,29,596 shares getting traded on Friday. Post opening the session at $23.86, the shares hit an intraday low of $23.655 and an intraday high of $23.9532 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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.
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.