Corning Incorporated (GLW) : Hotchkis Wiley Capital Management reduced its stake in Corning Incorporated by 6.54% during the most recent quarter end. The investment management company now holds a total of 44,795,085 shares of Corning Incorporated which is valued at $1,024,463,594 after selling 3,132,496 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Aug 12, 2016.Corning Incorporated makes up approximately 4.14% of Hotchkis Wiley Capital Management’s portfolio.
Other Hedge Funds, Including , Allianz Asset Management Ag boosted its stake in GLW in the latest quarter, The investment management firm added 1,211,162 additional shares and now holds a total of 7,922,893 shares of Corning Incorporated which is valued at $181,196,563. Corning Incorporated makes up approx 0.25% of Allianz Asset Management Ag’s portfolio.Aston Asset Management reduced its stake in GLW by selling 543 shares or 0.53% in the most recent quarter. The Hedge Fund company now holds 102,751 shares of GLW which is valued at $2,349,915. Corning Incorporated makes up approx 1.37% of Aston Asset Management’s portfolio.Commonwealth Equity Services Inc boosted its stake in GLW in the latest quarter, The investment management firm added 6,892 additional shares and now holds a total of 583,102 shares of Corning Incorporated which is valued at $13,201,429. Corning Incorporated makes up approx 0.11% of Commonwealth Equity Services Inc’s portfolio.Cambridge Investment Research Advisors boosted its stake in GLW in the latest quarter, The investment management firm added 1,847 additional shares and now holds a total of 151,456 shares of Corning Incorporated which is valued at $3,428,964. Corning Incorporated makes up approx 0.07% of Cambridge Investment Research Advisors’s portfolio.
Corning Incorporated opened for trading at $22.59 and hit $22.88 on the upside on Monday, eventually ending the session at $22.69, with a gain of 0.69% or 0.155 points. The heightened volatility saw the trading volume jump to 84,85,539 shares. Company has a market cap of $23,527 M.
On the company’s financial health, Corning Incorporated reported $0.37 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $0.32. The company had revenue of $2360.00 million for the quarter, compared to analysts expectations of $2377.57 million. The company’s revenue was up .7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.38 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.