GAMMA Investing LLC Boosts Stock Position in PHINIA Inc. (NYSE:PHIN)

GAMMA Investing LLC lifted its position in shares of PHINIA Inc. (NYSE:PHIN) by 23.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,403 shares of the company’s stock after buying an additional 271 shares during the period. GAMMA Investing LLC’s holdings in PHINIA were worth $65,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of PHIN. Quarry LP purchased a new position in shares of PHINIA during the fourth quarter worth approximately $37,000. Wellington Management Group LLP grew its holdings in shares of PHINIA by 43.0% during the 4th quarter. Wellington Management Group LLP now owns 245,198 shares of the company’s stock valued at $7,427,000 after purchasing an additional 73,732 shares during the last quarter. Alaska Permanent Fund Corp raised its position in PHINIA by 151.9% in the 1st quarter. Alaska Permanent Fund Corp now owns 59,383 shares of the company’s stock worth $2,282,000 after purchasing an additional 35,805 shares during the period. CHICAGO TRUST Co NA bought a new stake in PHINIA in the first quarter worth $245,000. Finally, Counterpoint Mutual Funds LLC purchased a new stake in PHINIA during the 1st quarter valued at about $297,000. Institutional investors own 90.94% of the company’s stock.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the company’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 sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.50% of the stock is owned by corporate insiders.

PHINIA Trading Down 1.4 %

NYSE:PHIN opened at $45.08 on Wednesday. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $52.19. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The company has a 50-day moving average price of $46.31 and a 200-day moving average price of $43.27. The stock has a market cap of $2.06 billion, a price-to-earnings ratio of 24.11 and a beta of 0.85.

PHINIA (NYSE:PHIN) last posted 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 the consensus estimate of $889.00 million. During the same period in the previous year, the firm posted $1.61 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. Equities analysts predict that PHINIA Inc. will post 3.27 EPS for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 annualized dividend and a yield of 2.22%. PHINIA’s payout ratio is 53.48%.

Analyst Upgrades and Downgrades

PHIN has been the subject of several recent analyst reports. UBS Group initiated coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective for the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research note on Wednesday, September 25th.

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.