5,916 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. purchased a new position in PHINIA Inc. (NYSE:PHIN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 5,916 shares of the company’s stock, valued at approximately $233,000.

Several other hedge funds have also recently added to or reduced their stakes in PHIN. Quarry LP acquired a new position in PHINIA in the fourth quarter worth approximately $37,000. Fidelis Capital Partners LLC acquired a new position in PHINIA in the first quarter worth approximately $37,000. Cape Investment Advisory Inc. acquired a new position in PHINIA in the fourth quarter worth approximately $39,000. GAMMA Investing LLC grew its position in PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares in the last quarter. Finally, TFO Wealth Partners LLC acquired a new stake in PHINIA during the 4th quarter valued at $48,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the company’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 of the company’s stock, valued at $1,409,353.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.50% of the stock is currently owned by company insiders.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $50.03 on Monday. The company’s fifty day moving average is $45.53 and its two-hundred day moving average is $42.16. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $52.19. The company has a market cap of $2.29 billion, a P/E ratio of 14.94 and a beta of 0.86.

PHINIA (NYSE:PHIN) last announced its earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share (EPS) 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 firm earned $1.61 earnings per share. PHINIA’s revenue for the quarter was down 2.1% compared to the same quarter last year. Equities analysts expect that PHINIA Inc. will post 3.37 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date was Friday, August 23rd.

Analyst Ratings Changes

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

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.