Corning (GLW 21.49) reached its Minimum Sell Price of 21.59 on July 27. GLW was first recommended in December 2012 at 12.50. The company was featured in the Cabot Enterprising Model using the Classic Value analysis. GLW has advanced 72.7% in the past 44 months compared to a gain of 52.8% for the Standard & Poor’s 500 Index during the same time period. SELL.
Ensco (ESV 8.78) Continues to disappoint. Oil prices reached $50 per barrel, which spurred new production from oil land drillers. In addition, oil refiners increased production of gasoline in response to rising demand. Consumers are driving more miles during the summer months, and taking advantage of low gas prices. The additional production is causing an oversupply of oil and gasoline, which is causing oil prices to fall again. Falling oil prices will cause ESV shares to decline further. Let’s take our losses. SELL.
Matthews International (MATW 60.97) Reached its Minimum Sell Price of 58.91 and should now be sold. MATW was first recommended in November 2013 at 41.73. The company was featured in the Cabot Value Model using the A-List Dividend analysis. MATW has advanced 46.1% in the past 32 months compared to a gain of 20.4% for the Standard & Poor’s 500 Index during the same time period. SELL.