Recent Stock Purchase: Corning (NYSE: GLW)

Earlier this week I bought Corning, an innovative glass company that has been around for over a hundred years.  The stock has been on my watch list for some time and with price hovering around the 52-week low, I felt now was the time to buy.  The valuation on this stock is hard to pass up, trading at close to 6 times earnings!  There was some recent bad news coming from the company where they stated their earnings will below expectations this quarter due to a Korean company canceling a contract, but I’m not overly concerned that this is a trend and the future growth of the company looks bright for their scratch resistant Gorilla Glass — the glass used in smart phones and tablets.  I believe the stock is currently priced for the worst case scenario, and as a bonus, the stock currently has a 2.3% yield.  The company also has a rock solid balance sheet.  Looking at the numbers and future prospects of the company, I’m of the opinion the downside risk is small.

Price:  $13.54 per share (as of 14 Dec 11)

Motley Fool CAPS Rating:  5-stars


About runninginspired

I’m in my mid-40s and have been running for about 19 years. I have finished 24 marathons with a personal best time of 3:04. I currently reside in San Diego, CA. I enjoy running since it keeps you honest and will give back what you put into it. Work hard, but smart, and good results will eventually follow. I like to experiment with training plans, gadgets, shoes, and nutrition to find what works for me. The primary purpose of this blog is to document my training and thoughts about running in my ongoing quest to improve my fitness and health.
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