Banyan Capital Management Inc. Has $9.61 Million Stake in PHINIA Inc. (NYSE:PHIN)

Banyan Capital Management Inc. grew its stake in PHINIA Inc. (NYSE:PHIN) by 0.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 244,050 shares of the company’s stock after acquiring an additional 530 shares during the quarter. PHINIA accounts for 5.8% of Banyan Capital Management Inc.’s portfolio, making the stock its 8th biggest holding. Banyan Capital Management Inc. owned about 0.53% of PHINIA worth $9,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently modified their holdings of PHIN. Fidelis Capital Partners LLC bought a new stake in shares of PHINIA during the first quarter valued at approximately $37,000. GAMMA Investing LLC raised its holdings in shares of PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after purchasing an additional 567 shares during the last quarter. Quarry LP purchased a new stake in PHINIA during the fourth quarter valued at $37,000. Cape Investment Advisory Inc. bought a new position in PHINIA in the fourth quarter valued at about $39,000. Finally, EntryPoint Capital LLC purchased a new position in PHINIA in the first quarter worth about $60,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Performance

Shares of NYSE PHIN opened at $49.59 on Friday. The company has a market cap of $2.27 billion, a P/E ratio of 10.02 and a beta of 0.86. PHINIA Inc. has a 52-week low of $23.46 and a 52-week high of $50.33. 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’s fifty day moving average is $45.22 and its two-hundred day moving average is $41.90.

PHINIA (NYSE:PHIN) last released 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 firm 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 business’s revenue was down 2.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. As a group, analysts anticipate that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s dividend payout ratio (DPR) is 20.20%.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

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

About PHINIA

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.