Corning Incorporated (GLW) Holdings Trimmed by Utah Retirement Systems

Lloyd Doyle
September 17, 2017

LSV Asset Management now owns 13,011,732 shares of the electronics maker's stock valued at $391,002,000 after purchasing an additional 165,214 shares in the last quarter.

Other institutional investors have also added to or reduced their stakes in the company. Airain Ltd who had been investing in Corning Ordinary for a number of months, seems to be bullish on the $26.60 billion market cap company. The electronics maker reported $0.42 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.02. During the session shares traded on below-average volume.

Corning Incorporated (Corning) is engaged in the manufacture of specialty glass and ceramics. It has outperformed by 36.68% the S&P500.

Airain Ltd increased its stake in Corning Ordinary (GLW) by 320.2% based on its latest 2016Q4 regulatory filing with the SEC. Currently, 71.13 million total shares are owned by the public and among those 67.38 million shares have been available to trade. Voloridge Investment Management Llc who had been investing in Steel Dynamics Inc for a number of months, seems to be bullish on the $8.01B market cap company. Next year this decline will reach -2.17% to attain $1.35. About 2,601 shares traded. It has outperformed by 0.72% the S&P500.

Voloridge Investment Management Llc, which manages about $1.43 billion and $4.66 billion US Long portfolio, decreased its stake in Weibo Corp (NASDAQ:WB) by 402,888 shares to 51,727 shares, valued at $2.10M in 2016Q4, according to the filing. Finally, Swiss National Bank lifted its holdings in Corning by 15.3% during the 1st quarter.

More important recent Steel Dynamics, Inc. Praxair, Inc. (NYSE:PX) has risen 17.42% since September 16, 2016 and is uptrending. More interesting news about Steel Dynamics, Inc.

Among 15 analysts covering Steel Dynamics Inc. 0 of these were buys and 3 were sells. Therefore 73% are positive. The stock of Steel Dynamics, Inc. (NYSE:PX) has "Hold" rating given on Friday, June 2 by Deutsche Bank. The firm earned "Buy" rating on Monday, December 14 by Nomura. Guggenheim reissued a "buy" rating and issued a $35.00 price target on shares of Corning in a research report on Tuesday, August 15th. The firm has "Outperform" rating by RBC Capital Markets given on Friday, September 25. BidaskClub lowered shares of Corning from a "strong-buy" rating to a "buy" rating in a report on Monday, July 31st.

Other equities analysts also recently issued research reports about the stock. BMO Capital Markets maintained Steel Dynamics, Inc. The stock increased 0.34% or $0.1 on September 15, reaching $29.35. Its up 0.05, from 0.91 in 2016Q3. The shares were sold at an average price of $28.53, for a total value of $1,334,148.39. Stevens Capital Mngmt Lp has invested 0.22% in Steel Dynamics, Inc. Marshall Wace Limited Liability Partnership holds 449,813 shares or 0.35% of its portfolio. Folger Nolan Fleming Douglas Capital Inc invested in 0.04% or 2,296 shares. (NASDAQ:STLD). Great West Life Assurance Can accumulated 167,860 shares. Utah Retirement, Utah-based fund reported 42,741 shares. Burns J W And New York holds 0.19% of its portfolio in Praxair, Inc. S&Co owns 23,003 shares or 0.48% of their U.S. portfolio. 44,829 were reported by Jane Street Group Ltd Liability Corporation.

SG Americas Securities LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 47.2% in the 2nd quarter, according to its most recent filing with the SEC. Also published the news titled: "Corning retirees plan to host United Way campaign" on September 08, 2017. Also, Vice Chairman Lawrence D. Mcrae sold 48,125 shares of the company's stock in a transaction on Wednesday, August 30th. Insiders sold a total of 127,888 shares of company stock valued at $3,653,485 over the last three months. The stock of Corning Incorporated (NYSE:GLW) earned "Overweight" rating by Barclays Capital on Tuesday, September 29. Conversely, if more individuals are selling a stock, the price will decrease. 56,500 Corning Incorporated (NYSE:GLW) shares with value of $1.64M were sold by Ferrero Lisa.

Several equities analysts have recently weighed in on GLW shares. Therefore 28% are positive. Corning now has a consensus rating of "Hold" and a consensus price target of $25.56.

Let's take a look at how the stock has been performing recently. (NYSE:PX) has "Underperform" rating given on Thursday, December 22 by CLSA. The firm earned "Neutral" rating on Monday, April 3 by Citigroup. The firm has "Overweight" rating by JP Morgan given on Friday, January 27. The rating was maintained by Susquehanna on Wednesday, October 7 with "Neutral". Citigroup downgraded Corning Incorporated (NYSE:GLW) on Friday, March 31 to "Neutral" rating. As per Wednesday, October 28, the company rating was maintained by UBS. The rating was maintained by Jefferies on Tuesday, May 30 with "Hold". Airain Ltd bought 90,002 shares as the company's stock rose 5.06% with the market.

Investors sentiment increased to 1.02 in 2016 Q4. Its down 0.01, from 0.75 in 2016Q3.

Want to see what other hedge funds are holding GLW? Security Bancshares Of So Dak reported 11,129 shares. Stanley holds 0.19% or 25,545 shares in its portfolio. Sterne Agee CRT initiated Corning Incorporated (NYSE:GLW) on Tuesday, September 29 with "Neutral" rating. Livforsakringsbolaget Skandia Omsesidigt holds 0.1% or 84,043 shares. (NYSE:PX) for 5,500 shares. Huntington Natl Bank stated it has 0.01% of its portfolio in Corning Incorporated (NYSE:GLW).

ILLEGAL ACTIVITY NOTICE: "Corning Incorporated (GLW) Stake Boosted by WESPAC Advisors LLC" was originally published by StockNewsTimes and is the sole property of of StockNewsTimes. Hikari Tsushin reported 28,600 shares. Invesco, Georgia-based fund reported 1.18 million shares.

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