HITE Hedge Asset Management LLC Acquires New Stake in Qnity Electronics, Inc. $Q

HITE Hedge Asset Management LLC acquired a new stake in shares of Qnity Electronics, Inc. (NYSE:Q) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 217,384 shares of the premier technology solutions leader’s stock, valued at approximately $17,749,000. Qnity Electronics comprises 1.1% of HITE Hedge Asset Management LLC’s portfolio, making the stock its 24th biggest holding.

A number of other hedge funds also recently bought and sold shares of Q. GAMMA Investing LLC purchased a new stake in Qnity Electronics during the fourth quarter valued at $461,000. Neville Rodie & Shaw Inc. purchased a new stake in Qnity Electronics during the fourth quarter valued at $526,000. Investors Research Corp purchased a new stake in Qnity Electronics during the fourth quarter valued at $102,000. Board of the Pension Protection Fund purchased a new stake in Qnity Electronics during the fourth quarter valued at $73,000. Finally, Canal Capital Management LLC purchased a new stake in Qnity Electronics during the fourth quarter valued at $331,000.

Qnity Electronics Stock Performance

NYSE:Q opened at $150.42 on Friday. The stock has a 50-day simple moving average of $144.40 and a two-hundred day simple moving average of $114.50. Qnity Electronics, Inc. has a 52-week low of $70.50 and a 52-week high of $171.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.57 and a current ratio of 2.12. The firm has a market capitalization of $31.49 billion and a PE ratio of 51.69.

Qnity Electronics (NYSE:Q) last released its quarterly earnings results on Tuesday, May 12th. The premier technology solutions leader reported $1.08 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.16. The company had revenue of $1.32 billion for the quarter. Qnity Electronics’s revenue for the quarter was up 17.6% on a year-over-year basis. Qnity Electronics has set its FY 2026 guidance at 3.800-4.140 EPS. Analysts forecast that Qnity Electronics, Inc. will post 4.08 EPS for the current year.

Qnity Electronics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 15th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a yield of 0.2%. The ex-dividend date of this dividend is Friday, May 29th. Qnity Electronics’s payout ratio is currently 11.00%.

Analyst Ratings Changes

A number of analysts recently commented on Q shares. Mizuho upped their price objective on Qnity Electronics from $150.00 to $170.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. The Goldman Sachs Group reiterated a “buy” rating and set a $165.00 price objective on shares of Qnity Electronics in a research report on Wednesday, May 13th. KeyCorp boosted their price target on Qnity Electronics from $117.00 to $147.00 and gave the company an “overweight” rating in a report on Friday, February 27th. Zacks Research lowered Qnity Electronics from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Qnity Electronics in a report on Friday, May 8th. Eight research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $151.33.

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.