12,995 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. bought a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund bought 12,995 shares of the company’s stock, valued at approximately $511,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Victory Capital Management Inc. lifted its stake in PHINIA by 17.0% in the 4th quarter. Victory Capital Management Inc. now owns 9,729 shares of the company’s stock worth $295,000 after acquiring an additional 1,411 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in PHINIA by 4.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock valued at $10,214,000 after buying an additional 14,289 shares during the period. Jump Financial LLC lifted its position in PHINIA by 38.8% in the 4th quarter. Jump Financial LLC now owns 11,953 shares of the company’s stock worth $362,000 after buying an additional 3,342 shares in the last quarter. Janney Montgomery Scott LLC lifted its position in PHINIA by 8.3% in the 4th quarter. Janney Montgomery Scott LLC now owns 26,497 shares of the company’s stock worth $803,000 after buying an additional 2,026 shares in the last quarter. Finally, Norges Bank purchased a new position in shares of PHINIA during the 4th quarter valued at $16,896,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHIN opened at $45.87 on Friday. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The firm has a market cap of $2.00 billion, a PE ratio of 14.21 and a beta of 0.86. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $49.31. The firm’s 50 day moving average price is $44.81 and its 200 day moving average price is $41.63.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The business had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The company’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.61 earnings per share. As a group, research analysts expect that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date of this dividend was Friday, August 23rd.

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the transaction, the vice president now directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective for the company.

PHINIA Company Profile

PHINIA Inc engages in the development, design, and manufacture of integrated components and systems that optimize performance, increase efficiency, and reduce emissions in combustion and hybrid propulsion for commercial and light vehicles, and industrial applications. The company operates through Fuel Systems and Aftermarket segments.