Lincluden Management LTD Has Lowered Its Corning (GLW) Position by $123.57 Million; Stock Value Rose; Sanofi (SNY) Shareholder Wallace Capital Management Has Raised Its Stake

February 16, 2018 - By Hazel Jackson

Scott Wallace increased its stake in Sanofi (SNY) by 5.63% based on its latest 2017Q3 regulatory filing with the SEC. Wallace Capital Management Inc bought 7,995 shares as the company’s stock rose 14.25% with the market. The hedge fund run by Scott Wallace held 150,089 shares of the major pharmaceuticals company at the end of 2017Q3, valued at $7.47M, up from 142,094 at the end of the previous reported quarter. Wallace Capital Management Inc who had been investing in Sanofi for a number of months, seems to be bullish on the $93.53B market cap company. The stock increased 0.67% or $0.265 during the last trading session, reaching $39.985. About 2.57M shares traded or 38.83% up from the average. Sanofi (NYSE:SNY) has risen 26.96% since February 16, 2017 and is uptrending. It has outperformed by 10.26% the S&P500.

Lincluden Management Ltd decreased its stake in Corning Inc. (GLW) by 90% based on its latest 2017Q3 regulatory filing with the SEC. Lincluden Management Ltd sold 413,275 shares as the company’s stock rose 5.06% with the market. The institutional investor held 45,896 shares of the telecommunications equipment company at the end of 2017Q3, valued at $13.73M, down from 459,171 at the end of the previous reported quarter. Lincluden Management Ltd who had been investing in Corning Inc. for a number of months, seems to be less bullish one the $25.44 billion market cap company. The stock increased 0.39% or $0.115 during the last trading session, reaching $29.655. About 6.03 million shares traded. Corning Incorporated (NYSE:GLW) has risen 53.38% since February 16, 2017 and is uptrending. It has outperformed by 36.68% the S&P500.

Among 12 analysts covering Sanofi-aventis Sa (NYSE:SNY), 1 have Buy rating, 2 Sell and 9 Hold. Therefore 8% are positive. Sanofi-aventis Sa had 25 analyst reports since October 15, 2015 according to SRatingsIntel. The firm earned “Hold” rating on Monday, December 18 by Cowen & Co. The stock of Sanofi (NYSE:SNY) earned “Neutral” rating by Goldman Sachs on Monday, November 7. Berenberg upgraded the stock to “Buy” rating in Thursday, September 8 report. The firm has “Hold” rating given on Tuesday, May 3 by HSBC. The stock of Sanofi (NYSE:SNY) earned “Equal-Weight” rating by Barclays Capital on Wednesday, November 15. The firm earned “Hold” rating on Tuesday, September 5 by Cowen & Co. BNP Paribas upgraded the shares of SNY in report on Tuesday, September 13 to “Neutral” rating. JP Morgan upgraded Sanofi (NYSE:SNY) on Wednesday, April 12 to “Neutral” rating. As per Monday, November 9, the company rating was downgraded by Bernstein. The company was maintained on Friday, April 21 by JP Morgan.

Wallace Capital Management Inc, which manages about $662.24M and $623.99 million US Long portfolio, decreased its stake in Rh by 76,290 shares to 207,252 shares, valued at $14.57M in 2017Q3, according to the filing.

Since August 24, 2017, it had 0 buys, and 7 insider sales for $12.68 million activity. Kinlin Clark S sold $1.33 million worth of stock. The insider McRae Lawrence D sold 48,125 shares worth $1.38M. Pambianchi Christine M sold 33,000 shares worth $942,619. RIEMAN DEBORAH sold $66,979 worth of Corning Incorporated (NYSE:GLW) on Thursday, December 14. On Tuesday, October 31 WEEKS WENDELL P sold $7.81M worth of Corning Incorporated (NYSE:GLW) or 248,857 shares. TOOKES HANSEL E II had sold 6,513 shares worth $205,778.

Among 18 analysts covering Corning Incorporated (NYSE:GLW), 5 have Buy rating, 2 Sell and 11 Hold. Therefore 28% are positive. Corning Incorporated had 45 analyst reports since July 30, 2015 according to SRatingsIntel. The company was initiated on Tuesday, September 15 by Deutsche Bank. The stock of Corning Incorporated (NYSE:GLW) earned “Buy” rating by Guggenheim on Monday, July 17. Goldman Sachs downgraded Corning Incorporated (NYSE:GLW) on Tuesday, March 14 to “Neutral” rating. Bernstein downgraded the stock to “Mkt Perform” rating in Wednesday, February 1 report. The company was downgraded on Tuesday, August 15 by Goldman Sachs. The firm has “Hold” rating given on Friday, September 8 by Stifel Nicolaus. The stock of Corning Incorporated (NYSE:GLW) earned “Buy” rating by Goldman Sachs on Tuesday, April 12. The rating was initiated by Guggenheim with “Buy” on Wednesday, January 4. The rating was maintained by Guggenheim with “Buy” on Tuesday, December 12. Deutsche Bank maintained the stock with “Buy” rating in Wednesday, October 25 report.

Lincluden Management Ltd, which manages about $1.29B US Long portfolio, upped its stake in Toronto Dominion Bk Ont (NYSE:TD) by 224,853 shares to 2.23 million shares, valued at $125.34 million in 2017Q3, according to the filing. It also increased its holding in Canadian Natural Resources Ltd. (NYSE:CNQ) by 138,510 shares in the quarter, for a total of 349,900 shares, and has risen its stake in China Mobile Limited (NYSE:CHL).

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