Saudi Central Bank raised its stake in Qnity Electronics, Inc. (NYSE:Q – Free Report) by 89.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,661 shares of the premier technology solutions leader’s stock after buying an additional 6,929 shares during the period. Saudi Central Bank’s holdings in Qnity Electronics were worth $2,394,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Oregon Public Employees Retirement Fund raised its stake in shares of Qnity Electronics by 0.3% during the 1st quarter. Oregon Public Employees Retirement Fund now owns 24,004 shares of the premier technology solutions leader’s stock worth $2,770,000 after buying an additional 77 shares during the last quarter. AMG National Trust Bank boosted its position 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 worth $298,000 after buying an additional 84 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake 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 valued at $25,000 after acquiring an additional 89 shares during the last quarter. Butensky & Cohen Financial Security Inc. grew its stake in Qnity Electronics by 0.3% in the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 34,132 shares of the premier technology solutions leader’s stock valued at $5,574,000 after acquiring an additional 105 shares during the last quarter. Finally, Syon Capital LLC increased its holdings in Qnity Electronics by 2.0% during the 2nd quarter. Syon Capital LLC now owns 5,811 shares of the premier technology solutions leader’s stock valued at $949,000 after acquiring an additional 116 shares in the last quarter.
Qnity Electronics Price Performance
Qnity Electronics stock opened at $120.53 on Tuesday. Qnity Electronics, Inc. has a 1 year low of $70.50 and a 1 year high of $177.28. The company has a debt-to-equity ratio of 0.53, a quick ratio of 1.50 and a current ratio of 2.01. The firm has a 50 day moving average price of $134.53 and a 200 day moving average price of $135.91. The company has a market cap of $25.22 billion and a price-to-earnings ratio of 43.05.
Qnity Electronics Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, August 31st will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 0.3%. The ex-dividend date of this dividend is Monday, August 31st. Qnity Electronics’s dividend payout ratio (DPR) is 11.43%.
Insiders Place Their Bets
In other news, Director Bondt De purchased 1,000 shares of the stock in a transaction on Tuesday, August 11th. The stock was purchased at an average price of $138.14 per share, with a total value of $138,140.00. Following the completion of the transaction, the director 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.15% of the company’s stock.
Wall Street Analyst Weigh In
A number of equities analysts have issued reports on the stock. Deutsche Bank Aktiengesellschaft restated a “buy” rating on shares of Qnity Electronics in a research report on Wednesday, August 5th. Zacks Research upgraded shares of Qnity Electronics from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, June 30th. BMO Capital Markets raised their price objective on shares of Qnity Electronics from $180.00 to $185.00 and gave the stock an “outperform” rating in a research note on Monday, July 6th. The Goldman Sachs Group restated a “buy” rating and set a $165.00 price objective on shares of Qnity Electronics in a research report on Wednesday, May 13th. Finally, Weiss Ratings lowered Qnity Electronics from a “hold (c)” rating to a “hold (c-)” rating in a research note on Wednesday, August 5th. One investment analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $151.78.
View Our Latest Stock Report on Qnity Electronics
Qnity Electronics Company Profile
Qnity Electronics, Inc (NYSE: Q) is a global materials and solutions company serving the semiconductor and electronics industries. The company develops specialized materials used in semiconductor manufacturing, advanced packaging, printed circuit boards and other applications that support the production of electronic devices.
Its portfolio includes semiconductor processing materials, electronic materials and solutions designed to improve performance, reliability and manufacturing efficiency.
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