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DuPont de Nemours, Inc. (NYSE:DD) announced Monday the completion of the separation of its Electronics business, forming an independent public company named Qnity Electronics Inc. The transaction was carried out through a pro rata dividend in-kind, with all issued and outstanding shares of Qnity Electronics Inc. distributed to DuPont shareholders as of the close of business on October 22. The move comes as DuPont, with a market capitalization of $34.19 billion, has seen its shares climb 22.79% over the past six months, now trading near its 52-week high at $81.65.
The company stated in a press release that the separation was finalized on Friday. DuPont has provided unaudited pro forma consolidated financial information reflecting the effects of the separation and related transactions, including changes to its post-separation capital structure, as required by Article 11 of Regulation S-X. This information is included as an exhibit to the Securities and Exchange Commission filing.
DuPont’s common stock continues to be listed on the New York Stock Exchange under the symbol DD. The press release did not disclose additional financial terms or operational details regarding the new entity, Qnity Electronics Inc.
This report is based on a statement made in a Securities and Exchange Commission filing.
In other recent news, DuPont’s earnings and revenue developments have taken center stage following several strategic moves. The company’s spin-off of Qnity has led BMO Capital to lower its price target for DuPont to $50, maintaining an Outperform rating. Meanwhile, RBC Capital has increased its price target to $100, citing the spin-off’s value and reduced net leverage from the Aramids sale. Deutsche Bank reiterated its Buy rating and a $90 price target, highlighting the potential value unlocked from DuPont’s upcoming Electronics business separation. JPMorgan continues to see DuPont as undervalued, maintaining an Overweight rating with a $104 price target. In other industry news, Solstice Advanced Materials is set to join the S&P 500 index, following its spin-off from Honeywell International. These developments reflect ongoing strategic changes and analyst assessments impacting DuPont’s financial outlook and market positioning.
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