NEW YORK ( TheStreet) -- For long-term investors, higher taxes and worries about the fiscal cliff offer a chance to buy quality stocks at a discount.The winds of change in Washington may change direction from time to time, but for long-term investors the time to enter is when there is blood on the street.
Corning (GLW - Get Report) Background: Corning creates leading-edge technologies for the fastest-growing markets of the world's economy. Corning manufactures optical fiber, cable and photonic products for the telecommunications industry; and high-performance displays and components for television and other communications-related industries. 52-Week Range: $10.62 to $14.62 Price To Book: 0.9 Earnings Payout Percentage: 24% Glass may not initially appear sexy, but after you look at the profits the view becomes more exciting. Corning incorporates everything you want for a long-term "buy it and forget about it" type of hold. Corning has an oversized dividend that is likely to increase, a large R&D budget, and the company is not sitting on its laurels. Corning may begin to realize inroads into the automobile industry with products for windows and windshields. The dividend is small enough that investors may reasonably expect increases in the payout. Corning currently has an annualized dividend of 36 cents, yielding 2.8%. In the last month, the stock has really moved higher with a 67.4% increase. Over half the analysts covering Corning rate it as a buy or strong buy. In the last 52 weeks, the shares are about even, with a small gain of 2%. Corning has an average analyst target price of $14.62. The last reported short interest is only 1.7% of the average trading float. Short sellers are all but avoiding Corning, which is just what we want as investors. GLW Payout Ratio TTM data by YCharts