Today’s recommendation is a global manufacturer of specialty glasses, ceramics and related materials. The company is gaining momentum, with its shares just recently hitting a 52-week high.
Corning (GLW)
from Heartland Adviser
One of the longest surviving corporations is Corning (GLW), founded in 1851 by Anthony Houghton Sr.
Corning has put a premium on research and development, currently investing 9.3% of its sales revenues into R&D.
Every schoolchild knows that Thomas Edison invented the light bulb. Yet, a deeper look into the history of the light bulb shows the first light bulbs were too expensive for the common person. But the advancement of the use of electricity, with access for everyone, was due largely to the work of the young Corning Company, who created a more affordable type of glass for light bulbs.
Today Corning is still in the lead in glass and electrical equipment. The company’s advances in glass technology are now used for consumer electronics, flat screen televisions, computer monitors, laptops, and many more products that help the environment, telecommunications and the life sciences.
I think even more significantly improved products will result from Corning’s joint venture with Samsung. In October of 2013, Samsung and Corning decided to partner in creating more advances in specialty glass in the telecommunications arena.
Corning’s potential is only starting to be recognized. Based on our analysis, it is a strong company and undervalued, according to many of my financial measures.
Russ Kaplan, Heartland Adviser, www.russkaplaninvestments.com, 402-614-1321, March 21, 2014