Train Babcock Advisors Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Train Babcock Advisors reduced its stake in Corning Incorporated by 2.75% during the most recent quarter end. The investment management company now holds a total of 342,442 shares of Corning Incorporated which is valued at $7,163,887 after selling 9,688 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Apr 14, 2016.Corning Incorporated makes up approximately 2.83% of Train Babcock Advisors’s portfolio.

Corning Incorporated (GLW) witnessed a volatile trading activity on Monday , and eventually ended flat at 0.00% or 0 points without letting the bulls or bears take much advantage. The trading began at $20.73 and reached the intraday high at $21.03. The bulls started the profit booking and pushed the shares to intraday low of $20.73. The trading session was marked by a volume range of 56,80,565 shares exchanging hands. The 52-week high of the shares is $22.98 and the 52-week low is $15.42. The market cap of the company stands at $23,281 M and there are 1,11,28,37,210 shares in public circulation.

Other Hedge Funds, Including , Eastern Bank reduced its stake in GLW by selling 4,354 shares or 28.61% in the most recent quarter. The Hedge Fund company now holds 10,865 shares of GLW which is valued at $227,296. Corning Incorporated makes up approx 0.02% of Eastern Bank’s portfolio.Blue Bell Private Wealth Management boosted its stake in GLW in the latest quarter, The investment management firm added 745 additional shares and now holds a total of 2,145 shares of Corning Incorporated which is valued at $44,873. Corning Incorporated makes up approx 0.03% of Blue Bell Private Wealth Management’s portfolio.Dnb Asset Management As boosted its stake in GLW in the latest quarter, The investment management firm added 19,300 additional shares and now holds a total of 93,895 shares of Corning Incorporated which is valued at $1,964,283. Corning Incorporated makes up approx 0.04% of Dnb Asset Management As’s portfolio.Charter Trust Co reduced its stake in GLW by selling 465 shares or 0.9% in the most recent quarter. The Hedge Fund company now holds 51,296 shares of GLW which is valued at $1,057,724. Corning Incorporated makes up approx 0.13% of Charter Trust Co’s portfolio.

On the company’s financial health, Corning Incorporated reported $0.34 EPS for the quarter, beating the analyst consensus estimate by $ 0.03 according to the earnings call on Jan 26, 2016. Analyst had a consensus of $0.31. The company had revenue of $2400.00 million for the quarter, compared to analysts expectations of $2326.91 million. The company’s revenue was down -4.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.45 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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