Qnity Electronics (NYSE:Q) Sets New 52-Week High – Time to Buy?

Shares of Qnity Electronics, Inc. (NYSE:Q) reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $117.91 and last traded at $117.25, with a volume of 725315 shares. The stock had previously closed at $111.58.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Zacks Research upgraded Qnity Electronics to a “hold” rating in a research note on Thursday, November 6th. Royal Bank Of Canada reiterated an “outperform” rating and set a $118.00 price objective on shares of Qnity Electronics in a research note on Wednesday, January 21st. Oppenheimer initiated coverage on shares of Qnity Electronics in a research report on Tuesday, December 16th. They set an “outperform” rating and a $100.00 price target on the stock. New Street Research set a $110.00 price target on Qnity Electronics in a research note on Monday, November 3rd. Finally, Wolfe Research began coverage on Qnity Electronics in a report on Monday, November 3rd. They issued an “outperform” rating and a $110.00 price objective for the company. Five analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.00.

Qnity Electronics Stock Up 3.6%

The company has a debt-to-equity ratio of 0.18, a current ratio of 1.78 and a quick ratio of 1.07. The stock has a market capitalization of $24.21 billion and a price-to-earnings ratio of 114.45. The business has a 50-day moving average price of $95.00.

Qnity Electronics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 16th. Investors of record on Friday, February 27th will be given a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 0.3%. The ex-dividend date of this dividend is Friday, February 27th. Qnity Electronics’s dividend payout ratio is 23.76%.

Insider Buying and Selling

In other Qnity Electronics news, VP Michael G. Goss sold 1,895 shares of Qnity Electronics stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $84.79, for a total transaction of $160,677.05. Following the sale, the vice president directly owned 13,305 shares of the company’s stock, valued at approximately $1,128,130.95. The trade was a 12.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jon D. Kemp sold 5,655 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The stock was sold at an average price of $85.01, for a total value of $480,731.55. Following the transaction, the chief executive officer owned 89,177 shares of the company’s stock, valued at $7,580,936.77. This trade represents a 5.96% decrease in their position. The SEC filing for this sale provides additional information.

Hedge Funds Weigh In On Qnity Electronics

Several institutional investors have recently bought and sold shares of the business. Appleton Partners Inc. MA acquired a new position in shares of Qnity Electronics during the 4th quarter worth about $309,000. MassMutual Private Wealth & Trust FSB bought a new position in Qnity Electronics during the fourth quarter worth about $52,000. Quantum Financial Advisors LLC acquired a new position in Qnity Electronics during the fourth quarter worth approximately $854,000. GAMMA Investing LLC bought a new stake in Qnity Electronics in the fourth quarter valued at approximately $461,000. Finally, True Wealth Design LLC bought a new stake in Qnity Electronics in the fourth quarter valued at approximately $49,000.

About Qnity Electronics

Qnity Electronics Inc is a premier technology solution provider across the semiconductor value chain. Qnity Electronics Inc is based in WILMINGTON, Del.