Qnity Electronics, Inc. $Q Stake Boosted by Candriam S.C.A.

Candriam S.C.A. boosted its holdings in Qnity Electronics, Inc. (NYSE:Q) by 641.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 342,911 shares of the premier technology solutions leader’s stock after purchasing an additional 296,648 shares during the quarter. Candriam S.C.A.’s holdings in Qnity Electronics were worth $43,275,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in Q. Ethic Inc. increased its stake in Qnity Electronics by 211.2% during the third quarter. Ethic Inc. now owns 26,292 shares of the premier technology solutions leader’s stock valued at $3,306,000 after purchasing an additional 17,844 shares during the last quarter. Pictet Asset Management Holding SA raised its holdings in shares of Qnity Electronics by 198.5% during the third quarter. Pictet Asset Management Holding SA now owns 385,931 shares of the premier technology solutions leader’s stock worth $48,527,000 after purchasing an additional 256,655 shares during the period. Alps Advisors Inc. lifted its position in shares of Qnity Electronics by 20.7% in the 3rd quarter. Alps Advisors Inc. now owns 14,444 shares of the premier technology solutions leader’s stock worth $1,816,000 after buying an additional 2,482 shares during the last quarter. CenterBook Partners LP bought a new position in shares of Qnity Electronics in the 3rd quarter worth about $252,000. Finally, Heritage Family Offices LLP bought a new position in shares of Qnity Electronics in the 3rd quarter worth about $79,000.

Qnity Electronics Price Performance

Shares of Q opened at $116.78 on Friday. The company has a market cap of $24.41 billion and a P/E ratio of 43.90. The stock has a fifty day moving average price of $121.03 and a 200 day moving average price of $129.37. The company has a debt-to-equity ratio of 0.51, a current ratio of 2.09 and a quick ratio of 1.50. Qnity Electronics, Inc. has a 12 month low of $72.81 and a 12 month high of $177.28.

Qnity Electronics (NYSE:Q) last posted its earnings results on Wednesday, November 4th. The premier technology solutions leader reported $1.46 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.28. The company had revenue of $1.56 billion for the quarter. Qnity Electronics had a return on equity of 12.63% and a net margin of 10.16%. On average, research analysts forecast that Qnity Electronics, Inc. will post 5.01 earnings per share for the current year.

Qnity Electronics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 15th. Stockholders of record on Monday, November 30th will be given a dividend of $0.08 per share. The ex-dividend date is Monday, November 30th. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. Qnity Electronics’s dividend payout ratio is currently 12.03%.

Wall Street Analyst Weigh In

Several research firms have recently commented on Q. Zacks Research raised shares of Qnity Electronics from a “hold” rating to a “strong-buy” rating in a report on Thursday. Barclays increased their price objective on shares of Qnity Electronics from $211.00 to $216.00 and gave the stock an “overweight” rating in a research note on Friday. Weiss Ratings lowered shares of Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Truist Financial started coverage on shares of Qnity Electronics in a report on Wednesday, October 14th. They issued a “buy” rating and a $170.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Qnity Electronics in a research note on Wednesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $164.78.

Insider Buying and Selling at Qnity Electronics

In other news, Director Bondt De acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 11th. The shares were acquired at an average price of $138.14 per share, with a total value of $138,140.00. Following the acquisition, the director directly owned 6,647 shares in the company, valued at approximately $918,216.58. The trade was a 17.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.15% of the stock is currently owned by company insiders.

About Qnity Electronics

Qnity Electronics develops materials and technologies used in semiconductor manufacturing and electronic interconnect applications. Its products support processes such as chip fabrication and advanced packaging, as well as the production and assembly of circuit boards.

The company serves customers across the global electronics supply chain, including semiconductor manufacturers and makers of electronic components. Its portfolio includes materials designed to help enable reliable, high-performance devices and connections.

Qnity became an independent company through the separation of DuPont’s electronics business.