Alpha Omega Wealth Management Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Alpha Omega Wealth Management reduced its stake in Corning Incorporated by 0.22% during the most recent quarter end. The investment management company now holds a total of 125,099 shares of Corning Incorporated which is valued at $2,625,828 after selling 282 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Apr 21, 2016.Corning Incorporated makes up approximately 2.19% of Alpha Omega Wealth Management’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 , Advisory Services Network boosted its stake in GLW in the latest quarter, The investment management firm added 87 additional shares and now holds a total of 27,028 shares of Corning Incorporated which is valued at $567,318. Corning Incorporated makes up approx 0.15% of Advisory Services Network’s portfolio.Lucas Capital Management reduced its stake in GLW by selling 4,370 shares or 17.61% in the most recent quarter. The Hedge Fund company now holds 20,450 shares of GLW which is valued at $429,246. Corning Incorporated makes up approx 0.29% of Lucas Capital Management’s portfolio.Naples Global Advisors reduced its stake in GLW by selling 3,015 shares or 3.37% in the most recent quarter. The Hedge Fund company now holds 86,331 shares of GLW which is valued at $1,806,045. Corning Incorporated makes up approx 0.75% of Naples Global Advisors’s portfolio.British Columbia Investment Management Corp reduced its stake in GLW by selling 18,617 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 589,366 shares of GLW which is valued at $12,152,727. Corning Incorporated makes up approx 0.12% of British Columbia Investment Management Corp’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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