Cacti Asset Management buys $41,344,122 stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Cacti Asset Management scooped up 21,750 additional shares in Corning Incorporated during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Oct 3, 2016. The investment management firm now holds a total of 1,737,148 shares of Corning Incorporated which is valued at $41,344,122.Corning Incorporated makes up approximately 4.21% of Cacti Asset Management’s portfolio.

Other Hedge Funds, Including , Lvm Capital Management Ltdmi sold out all of its stake in GLW during the most recent quarter. The investment firm sold 66,547 shares of GLW which is valued $1,583,819.

Corning Incorporated closed down -0.25 points or -1.06% at $23.41 with 94,46,725 shares getting traded on Tuesday. Post opening the session at $23.7, the shares hit an intraday low of $23.32 and an intraday high of $23.75 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

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.

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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