Qnity Electronics, Inc. $Q Stock Position Lessened by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments cut its Qnity Electronics stake by 16.6% in the third quarter, selling 720,256 shares; it still held about 1.74% of the company, worth roughly $466.3 million.
• Qnity reported quarterly EPS of $1.46, beating the $1.18 consensus estimate, on revenue of $1.56 billion. Analysts’ consensus rating was “Buy,” with an average price target of $164.78.
• The company declared a quarterly dividend of $0.08 per share, equal to an annualized yield of about 0.3%. A director also purchased 1,000 shares at an average price of $138.14.

Allspring Global Investments Holdings LLC reduced its position in Qnity Electronics, Inc. (NYSE:Q - Free Report) by 16.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,630,305 shares of the premier technology solutions leader's stock after selling 720,256 shares during the quarter. Qnity Electronics accounts for about 0.7% of Allspring Global Investments Holdings LLC's holdings, making the stock its 17th largest holding. Allspring Global Investments Holdings LLC owned approximately 1.74% of Qnity Electronics worth $466,313,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of the company. AMG National Trust Bank boosted its stake in shares of Qnity Electronics by 3.4% in the 1st quarter. AMG National Trust Bank now owns 2,583 shares of the premier technology solutions leader's stock valued at $298,000 after purchasing an additional 84 shares in the last quarter. MGO One Seven LLC grew its holdings in shares of Qnity Electronics by 0.7% during the 3rd quarter. MGO One Seven LLC now owns 11,806 shares of the premier technology solutions leader's stock valued at $1,485,000 after purchasing an additional 87 shares during the last quarter. RHL Group LLC grew its holdings in shares of Qnity Electronics by 8.0% during the 3rd quarter. RHL Group LLC now owns 1,168 shares of the premier technology solutions leader's stock valued at $147,000 after purchasing an additional 87 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in Qnity Electronics by 71.8% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 213 shares of the premier technology solutions leader's stock worth $25,000 after purchasing an additional 89 shares during the period. Finally, Flagship Harbor Advisors LLC raised its position in Qnity Electronics by 5.4% in the 3rd quarter. Flagship Harbor Advisors LLC now owns 1,773 shares of the premier technology solutions leader's stock worth $223,000 after purchasing an additional 91 shares during the period.

Insiders Place Their Bets

In other news, Director Bondt De purchased 1,000 shares of Qnity Electronics stock in a transaction that occurred on Tuesday, August 11th. The shares were bought at an average cost of $138.14 per share, with a total value of $138,140.00. Following the completion of the purchase, the director directly owned 6,647 shares in the company, valued at approximately $918,216.58. This trade represents a 17.71% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.15% of the stock is currently owned by insiders.

Qnity Electronics Price Performance

Shares of Q stock opened at $116.78 on Monday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.58 and a current ratio of 2.09. Qnity Electronics, Inc. has a fifty-two week low of $72.81 and a fifty-two week high of $177.28. The firm has a market cap of $24.41 billion and a P/E ratio of 43.90. The business's 50 day moving average price is $121.03 and its 200-day moving average price is $129.37.

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

Qnity Electronics Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on Q shares. Zacks Research upgraded Qnity Electronics from a "hold" rating to a "strong-buy" rating in a research report on Thursday. Royal Bank Of Canada lowered their price objective 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. Barclays boosted their price objective on Qnity Electronics from $211.00 to $216.00 and gave the company an "overweight" rating in a research report on Friday. Weiss Ratings lowered Qnity Electronics from a "hold (c)" rating to a "hold (c-)" rating in a research note on Wednesday, October 28th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a "buy" rating on shares of Qnity Electronics in a research note on Wednesday, August 5th. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $164.78.

Qnity Electronics Profile

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.

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