Corning Incorporated (GLW) : F&v Capital Management reduced its stake in Corning Incorporated by 1.1% during the most recent quarter end. The investment management company now holds a total of 327,455 shares of Corning Incorporated which is valued at $6,847,084 after selling 3,640 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Jul 8, 2016.Corning Incorporated makes up approximately 5.00% of F&v Capital Management’s portfolio.
Other Hedge Funds, Including , Lvm Capital Management Ltdmi reduced its stake in GLW by selling 1,075 shares or 1.59% in the most recent quarter. The Hedge Fund company now holds 66,547 shares of GLW which is valued at $1,391,498. Corning Incorporated makes up approx 0.40% of Lvm Capital Management Ltdmi’s portfolio.Moreno Evelyn V reduced its stake in GLW by selling 5,000 shares or 28.74% in the most recent quarter. The Hedge Fund company now holds 12,400 shares of GLW which is valued at $259,284. Corning Incorporated makes up approx 0.10% of Moreno Evelyn V’s portfolio.Rosenbaum Jay D. reduced its stake in GLW by selling 2,750 shares or 11.16% in the most recent quarter. The Hedge Fund company now holds 21,900 shares of GLW which is valued at $457,929. Corning Incorporated makes up approx 0.06% of Rosenbaum Jay D.’s portfolio.Ct Financial Advisors reduced its stake in GLW by selling 3,021 shares or 71.66% in the most recent quarter. The Hedge Fund company now holds 1,195 shares of GLW which is valued at $24,987. Corning Incorporated makes up approx 0.02% of Ct Financial Advisors’s portfolio.Foundation Resource Management Inc reduced its stake in GLW by selling 390 shares or 0.04% in the most recent quarter. The Hedge Fund company now holds 1,023,883 shares of GLW which is valued at $21,409,394. Corning Incorporated makes up approx 3.96% of Foundation Resource Management Inc’s portfolio.
Corning Incorporated closed down -0.08 points or -0.37% at $21.37 with 42,53,522 shares getting traded on Wednesday. Post opening the session at $21.45, the shares hit an intraday low of $21.35 and an intraday high of $21.55 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 Initiated by Citigroup to “Buy” on Jun 20, 2016. Corning Incorporated was Downgraded by Standpoint Research to ” Hold” on Jun 13, 2016. Corning Incorporated was Downgraded by Drexel Hamilton to ” Sell” on Jun 10, 2016.
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.