Id Management As Lowers stake in Corning Incorporated (GLW)

Corning Incorporated (GLW) : Id Management As reduced its stake in Corning Incorporated by 8.6% during the most recent quarter end. The investment management company now holds a total of 415,812 shares of Corning Incorporated which is valued at $8,890,061 after selling 39,121 shares in Corning Incorporated , the firm said in a disclosure report filed with the SEC on Jul 14, 2016.Corning Incorporated makes up approximately 2.71% of Id Management As’s portfolio.

Other Hedge Funds, Including , First Manhattan Co boosted its stake in GLW in the latest quarter, The investment management firm added 200 additional shares and now holds a total of 7,622 shares of Corning Incorporated which is valued at $162,958.British Columbia Investment Management Corp reduced its stake in GLW by selling 53,765 shares or 9.12% in the most recent quarter. The Hedge Fund company now holds 535,601 shares of GLW which is valued at $11,199,417. Corning Incorporated makes up approx 0.10% of British Columbia Investment Management Corp’s portfolio. Kistler-tiffany Companies sold out all of its stake in GLW during the most recent quarter. The investment firm sold 1,300 shares of GLW which is valued $27,183.Bnp Paribas Arbitrage Sa reduced its stake in GLW by selling 815,751 shares or 89.53% in the most recent quarter. The Hedge Fund company now holds 95,351 shares of GLW which is valued at $1,993,789. Corning Incorporated makes up approx 0.01% of Bnp Paribas Arbitrage Sa’s portfolio.

Corning Incorporated opened for trading at $21.39 and hit $21.44 on the upside on Monday, eventually ending the session at $21.38, with a gain of 0.14% or 0.03 points. The heightened volatility saw the trading volume jump to 43,86,728 shares. Company has a market cap of $22,991 M.

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.

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