Qnity Electronics, Inc. $Q Stake Decreased by King Luther Capital Management Corp

King Luther Capital Management Corp cut its stake in shares of Qnity Electronics, Inc. (NYSE:Q) by 8.8% in the third quarter, Holdings Channel.com reports. The fund owned 79,428 shares of the premier technology solutions leader’s stock after selling 7,672 shares during the period. King Luther Capital Management Corp’s holdings in Qnity Electronics were worth $9,987,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Tidal Investments LLC increased its holdings in Qnity Electronics by 153.6% in the 2nd quarter. Tidal Investments LLC now owns 51,587 shares of the premier technology solutions leader’s stock valued at $8,425,000 after purchasing an additional 31,246 shares during the last quarter. Cetera Investment Advisers raised its position in Qnity Electronics by 25.2% in the first quarter. Cetera Investment Advisers now owns 59,846 shares of the premier technology solutions leader’s stock valued at $6,905,000 after purchasing an additional 12,041 shares during the period. Great Lakes Advisors LLC purchased a new stake in Qnity Electronics in the second quarter valued at approximately $52,121,000. Assenagon Asset Management S.A. purchased a new stake in Qnity Electronics in the second quarter valued at approximately $23,748,000. Finally, Troluce Capital Advisors LLC acquired a new position in Qnity Electronics during the second quarter worth $4,916,000.

Qnity Electronics Stock Down 3.1%

Qnity Electronics stock opened at $122.63 on Friday. Qnity Electronics, Inc. has a twelve month low of $72.81 and a twelve month high of $177.28. The stock’s fifty day simple moving average is $121.52 and its 200-day simple moving average is $129.88. The company has a current ratio of 2.09, a quick ratio of 1.58 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $25.63 billion and a P/E ratio of 27.82.

Qnity Electronics (NYSE:Q) last released 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 firm had revenue of $1.56 billion during the quarter. Qnity Electronics had a return on equity of 12.63% and a net margin of 10.16%. As a group, equities analysts expect that Qnity Electronics, Inc. will post 5.00 earnings per share for the current fiscal year.

Qnity Electronics Announces Dividend

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

Analyst Ratings Changes

Several research firms have recently commented on Q. Royal Bank Of Canada lowered their price target on Qnity Electronics from $189.00 to $160.00 and set an “outperform” rating for the company in a research report on Thursday, October 15th. Weiss Ratings cut Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, October 28th. Mizuho cut their price objective on Qnity Electronics from $180.00 to $160.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Barclays boosted their price objective on Qnity Electronics from $211.00 to $216.00 and gave the company an “overweight” rating in a report on Friday, November 6th. Finally, Truist Financial initiated coverage on shares of Qnity Electronics in a report on Wednesday, October 14th. They issued a “buy” rating and a $170.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, Qnity Electronics has a consensus rating of “Buy” and an average price target of $164.78.

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.