Photo by Austin Distel on Unsplash
 

Corning Inc, bearing the ticker symbol GLW, has been mentioned and selected for several of my previous Dog of the Week portfolios.  This, however, is its first mention as a candidate (for the thirty-fifth slot) in my Viking portfoliio.

Corning is a leader in materials science, specializing in the production of glass, ceramics, and optical fiber. The firm supplies its products for a wide range of applications, from flat-panel displays in televisions to gasoline particulate filters in automobiles to optical fiber for broadband access, with a leading share in many of its end markets.

Corning Incorporated was formerly known as Corning Glass Works and changed its name to Corning Incorporated in April 1989.

The company was founded in 1851 and is headquartered in Corning, New York.

Three key data points gauge Corning Inc or any dividend-paying firm. They are:

(1) Price

(2) Dividends

(3) Returns

Those three basic keys best tell whether any company has made, is making, and will make money.
 

GLW Price

Corning’s price per share was $31.53 at Friday’s market close. In the past year, its share price decreased about 11.6% from $35.65 to today’s $31.53.

If GLW’s stock trades in the range of $25.00 to $40.00 this next year, its recent $31.53 share price might get up to $35.00 by next year. Of course, Corning’s price could go down about the same $3.47 amount, or more.

My upside estimate of $3.47 is about $2.62 below the median of price estimates from 13 analysts tracking the stock for brokers.
 

GLW Dividend

Corning’s recent $0.28 Quarterly-dividend equates to $1.12 annually to yield 3.55% at Friday’s closing price.
 

GLW Returns

Adding the $1.12 projected annual dividend to my estimated $3.47 price gain reveals a $4.59 potential gross gain per share for the coming year.

At Friday’s $31.53 closing price, a little over $1000 would buy 32 shares.

A $10 broker fee (if charged), paid half at purchase and half at the sale, might cost us about $0.31 per share.

Subtracting that maybe $0.31 brokerage cost from my estimated $4.59 gross gain per share makes a net gain amount of $4.28 X 32 shares = $136.96 or a 13.65% net gain.

In the next year, our $1K investment in shares of GLW could generate about $35.50 in dividends. Furthermore, a single share of GLW stock at Friday’s $31.53  closing price is about $4 less than the income estimated from $1000.00 invested.

So, by my dogcatcher ideal, this is a prime time to consider Corning Incorporated based on its estimated dividends for 2023. The dividend from the $1k invested is $3.97  greater than Corning’s single-share price. Consider yourself alerted.

This may be time to pounce on GLW. But beware, its price is volatile, and $67.47 is below its all-time $99 high posted in 2000.

The foregoing article is based on past history of GLW. The only true measure of future performance will be produced from active investment in the company.

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