This is a glass company turned high tech. It is 165 years old and headquartered in Corning, New York if that tells you anything.
www.corning.com is the website.
Here is what they do:
Corning is one of the world's leading innovators in materials science, with a 166-year track record of life-changing inventions. Corning applies its unparalleled expertise in glass science, ceramics science, and optical physics, along with its deep manufacturing and engineering capabilities, to develop category-defining products that transform industries and enhance people's lives. Corning succeeds through sustained investment in RD&E, a unique combination of material and process innovation, and deep, trust-based relationships with customers who are global leaders in their industries.
Corning's capabilities are versatile and synergistic, which allows the company to evolve to meet changing market needs, while also helping our customers capture new opportunities in dynamic industries. Today, Corning's markets include optical communications, mobile consumer electronics, display technology, automotive, and life sciences vessels. Corning's industry-leading products include damage-resistant cover glass for mobile devices; precision glass for advanced displays; optical fiber, wireless technologies, and connectivity solutions for state-of-the-art communications networks; trusted products to accelerate drug discovery and delivery; and clean-air technologies for cars and trucks.
They recently developed the glass for iPhone X.
Here are the numbers we observe for our selection through Better Investing Stock Selection Guide:
1. It is growing at a 4.3% rate in sales with over 2.5 billion in sales making this a Large Capitalization company.
2. Its earnings per share rate of growth is 8.5%.
3. Pre-tax sales was 30.1% growth over five years.
4. Earnings on equity grew in five years at an 11% rate.
5. Its dividend has grown from .32 to .54 in five years of course a good trend. It is less than 50% of the 2.30 earnings per share which makes a healthy ratio.
6. It is in the BUY zone which is $25.80 to $37.10. The current price is $33.66.
7. It has debt but the debt to capital is 15.5% a very healthy rate.
PORTFOLIO TO DATE
100 DORMAN INCORPORATED COST $6,114 CURRENT VALUE $7,072
100 CORNING INCORPORATED COST $3,366 CURRENT VALUE $3,366
This is interesting that we bought Dorman and it is currently up $955.00 in a few days. That is an unusual move on an investment. We will take it but we did not know it would start up after the purchase. Don't expect this. We seek long term but will take short term gains.
