Qci Asset Management Incny buys $18,030,037 stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Qci Asset Management Incny scooped up 13,115 additional shares in Corning Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 9, 2016. The investment management firm now holds a total of 964,689 shares of Corning Incorporated which is valued at $18,030,037.Corning Incorporated makes up approximately 2.67% of Qci Asset Management Incny’s portfolio.

Other Hedge Funds, Including , Ftb Advisors boosted its stake in GLW in the latest quarter, The investment management firm added 3,230 additional shares and now holds a total of 16,619 shares of Corning Incorporated which is valued at $310,609. Corning Incorporated makes up approx 0.03% of Ftb Advisors’s portfolio.State Treasurer State Of Michigan reduced its stake in GLW by selling 21,500 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 383,121 shares of GLW which is valued at $7,064,751. Corning Incorporated makes up approx 0.06% of State Treasurer State Of Michigan’s portfolio.Stephens Inc Ar reduced its stake in GLW by selling 5,468 shares or 5.31% in the most recent quarter. The Hedge Fund company now holds 97,449 shares of GLW which is valued at $1,796,960. Corning Incorporated makes up approx 0.09% of Stephens Inc Ar’s portfolio.Andra Ap-fonden boosted its stake in GLW in the latest quarter, The investment management firm added 3,200 additional shares and now holds a total of 144,100 shares of Corning Incorporated which is valued at $2,657,204. Corning Incorporated makes up approx 0.07% of Andra Ap-fonden’s portfolio.Tarbox Group reduced its stake in GLW by selling 61 shares or 4.2% in the most recent quarter. The Hedge Fund company now holds 1,391 shares of GLW which is valued at $25,970. Corning Incorporated makes up approx 0.02% of Tarbox Group’s portfolio.

Corning Incorporated closed down -0.19 points or -1.01% at $18.69 with 1,19,32,908 shares getting traded on Friday. Post opening the session at $18.85, the shares hit an intraday low of $18.68 and an intraday high of $19.04 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 $0.28 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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