New York Life Trust Co buys $130,611 stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : New York Life Trust Co scooped up 1,640 additional shares in Corning Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 5,711 shares of Corning Incorporated which is valued at $130,611.Corning Incorporated makes up approximately 0.61% of New York Life Trust Co’s portfolio.

Other Hedge Funds, Including , Everpoint Asset Management boosted its stake in GLW in the latest quarter, The investment management firm added 125,000 additional shares and now holds a total of 215,000 shares of Corning Incorporated which is valued at $4,917,050. Corning Incorporated makes up approx 0.13% of Everpoint Asset Management’s portfolio.Group One Trading boosted its stake in GLW in the latest quarter, The investment management firm added 54,061 additional shares and now holds a total of 288,573 shares of Corning Incorporated which is valued at $6,599,665. Corning Incorporated makes up approx 0.57% of Group One Trading’s portfolio.New York State Common Retirement Fund reduced its stake in GLW by selling 69,390 shares or 1.79% in the most recent quarter. The Hedge Fund company now holds 3,812,866 shares of GLW which is valued at $87,200,245. Corning Incorporated makes up approx 0.12% of New York State Common Retirement Fund’s portfolio. Capital Fund Management S.a. sold out all of its stake in GLW during the most recent quarter. The investment firm sold 28,926 shares of GLW which is valued $621,620.

Corning Incorporated opened for trading at $22.67 and hit $22.8 on the upside on Thursday, eventually ending the session at $22.71, with a gain of 0.09% or 0.02 points. The heightened volatility saw the trading volume jump to 59,18,412 shares. Company has a market cap of $23,547 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.

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