Acadian Asset Management LLC Sells 3,862 Shares of PHINIA Inc. (NYSE:PHIN)

Acadian Asset Management LLC lessened its position in shares of PHINIA Inc. (NYSE:PHIN) by 18.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,647 shares of the company’s stock after selling 3,862 shares during the period. Acadian Asset Management LLC’s holdings in PHINIA were worth $654,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the company. Victory Capital Management Inc. raised its position in PHINIA by 17.0% during the fourth quarter. Victory Capital Management Inc. now owns 9,729 shares of the company’s stock valued at $295,000 after purchasing an additional 1,411 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of PHINIA by 4.4% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 337,218 shares of the company’s stock worth $10,214,000 after buying an additional 14,289 shares in the last quarter. Jump Financial LLC raised its holdings in shares of PHINIA by 38.8% during 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 shares of PHINIA by 8.3% during 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 during the last quarter. Finally, Norges Bank acquired a new stake in PHINIA in the fourth quarter valued at about $16,896,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analysts Set New Price Targets

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

PHINIA Stock Performance

Shares of PHINIA stock opened at $48.07 on Wednesday. The company’s 50 day moving average price is $44.93 and its two-hundred day moving average price is $41.77. The firm has a market capitalization of $2.20 billion, a P/E ratio of 9.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $49.31.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. During the same period last year, the business earned $1.61 EPS. The company’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts forecast that PHINIA Inc. will post 3.37 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.08%. The ex-dividend date was Friday, August 23rd. PHINIA’s dividend payout ratio (DPR) is currently 20.20%.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, 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 filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by insiders.

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.