Vontobel Swiss Wealth Advisors Ag buys $2 Million stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Vontobel Swiss Wealth Advisors Ag scooped up 13,778 additional shares in Corning Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 106,258 shares of Corning Incorporated which is valued at $2 Million.Corning Incorporated makes up approximately 1.07% of Vontobel Swiss Wealth Advisors Ag’s portfolio.

Other Hedge Funds, Including , D’orazio Associates boosted its stake in GLW in the latest quarter, The investment management firm added 1,500 additional shares and now holds a total of 2,545 shares of Corning Incorporated which is valued at $47,566. Corning Incorporated makes up approx 0.02% of D’orazio Associates’s portfolio.First Allied Advisory Services boosted its stake in GLW in the latest quarter, The investment management firm added 2,102 additional shares and now holds a total of 48,320 shares of Corning Incorporated which is valued at $903,101. Corning Incorporated makes up approx 0.05% of First Allied Advisory Services’s portfolio.Raymond James Associates boosted its stake in GLW in the latest quarter, The investment management firm added 512,296 additional shares and now holds a total of 1,802,065 shares of Corning Incorporated which is valued at $33.7 Million. Corning Incorporated makes up approx 0.11% of Raymond James Associates’s portfolio.Finemark National Bank Trust reduced its stake in GLW by selling 18,680 shares or 24.71% in the most recent quarter. The Hedge Fund company now holds 56,913 shares of GLW which is valued at $1.1 Million. Corning Incorporated makes up approx 0.13% of Finemark National Bank Trust’s portfolio.

Corning Incorporated closed down -0.09 points or -0.45% at $20 with 83,34,331 shares getting traded on Wednesday. Post opening the session at $20.17, the shares hit an intraday low of $19.95 and an intraday high of $20.24 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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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