Corning Inc (NYSE:GLW) Institutional Investors Sentiment Change

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Sentiment for Corning Inc (NYSE:GLW)

Corning Inc (NYSE:GLW) institutional sentiment increased to 1.01 in Q2 2019. Its up 0.13, from 0.88 in 2019Q1. The ratio is positive, as 313 hedge funds increased and opened new holdings, while 309 cut down and sold their holdings in Corning Inc. The hedge funds in our partner’s database reported: 543.66 million shares, up from 538.21 million shares in 2019Q1. Also, the number of hedge funds holding Corning Inc in their top 10 holdings decreased from 23 to 19 for a decrease of 4. Sold All: 55 Reduced: 254 Increased: 246 New Position: 67.

Corning Incorporated manufactures and sells specialty glasses, ceramics, and related materials in North America, the Asia Pacific, Europe, and internationally. The company has market cap of $23.55 billion. The firm operates through five divisions: Display Technologies, Optical Communications, Environmental Technologies, Specialty Materials, and Life Sciences. It has a 18.85 P/E ratio. The Display Technologies segment makes glass substrates for liquid crystal displays used in LCD televisions, notebook computers, and flat panel desktop monitors.

The stock decreased 0.30% or $0.09 during the last trading session, reaching $30.16. About 3.67 million shares traded. Corning Incorporated (NYSE:GLW) has declined 6.65% since September 13, 2018 and is downtrending. It has underperformed by 6.65% the S&P500.

Analysts await Corning Incorporated (NYSE:GLW) to report earnings on October, 22. They expect $0.46 EPS, down 9.80 % or $0.05 from last year’s $0.51 per share. GLW’s profit will be $359.20 million for 16.39 P/E if the $0.46 EPS becomes a reality. After $0.45 actual EPS reported by Corning Incorporated for the previous quarter, Wall Street now forecasts 2.22 % EPS growth.

Towerview Llc holds 15.16% of its portfolio in Corning Incorporated for 800,000 shares. Quaker Capital Investments Llc owns 570,249 shares or 7.7% of their US portfolio. Moreover, Oppenheimer & Close Llc has 7.21% invested in the company for 187,840 shares. The Minnesota-based Minneapolis Portfolio Management Group Llc has invested 6.8% in the stock. Shufro Rose & Co Llc, a New York-based fund reported 1.55 million shares.

Corning Incorporated (NYSE:GLW) Ratings Coverage

Ratings analysis reveals 50% of Corning’s analysts are positive. Out of 2 Wall Street analysts rating Corning, 1 give it “Buy”, 0 “Sell” rating, while 1 recommend “Hold”. The lowest target is $29.5 while the high is $3500. The stock’s average target of $32.25 is 6.93% above today’s ($30.16) share price. GLW was included in 8 notes of analysts from March 28, 2019. The rating was maintained by Jefferies on Thursday, June 20 with “Hold”.

More notable recent Corning Incorporated (NYSE:GLW) news were published by: Globenewswire.com which released: “Corning® Astraâ„¢ Glass Chosen for CCPD’s Oxide-LCD Line – GlobeNewswire” on August 22, 2019, also Globenewswire.com with their article: “Corning® Astraâ„¢ Glass Wins Touch Taiwan’s 2019 Gold Panel Award – GlobeNewswire” published on August 27, 2019, Finance.Yahoo.com published: “Should Corning Incorporated’s (NYSE:GLW) Weak Investment Returns Worry You? – Yahoo Finance” on June 30, 2019. More interesting news about Corning Incorporated (NYSE:GLW) were released by: Seekingalpha.com and their article: “Corning names Life Sciences leader – Seeking Alpha” published on August 22, 2019 as well as Finance.Yahoo.com‘s news article titled: “When Should You Buy Corning Incorporated (NYSE:GLW)? – Yahoo Finance” with publication date: August 12, 2019.

Corning Incorporated (NYSE:GLW) Institutional Positions Chart

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