Mutual of America Capital Management LLC Cuts Position in PHINIA Inc. (NYSE:PHIN)

Mutual of America Capital Management LLC trimmed its holdings in PHINIA Inc. (NYSE:PHIN) by 12.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,570 shares of the company’s stock after selling 939 shares during the period. Mutual of America Capital Management LLC’s holdings in PHINIA were worth $302,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in PHIN. Vanguard Group Inc. grew its stake in shares of PHINIA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock valued at $207,848,000 after buying an additional 102,769 shares during the period. Dimensional Fund Advisors LP grew its holdings in PHINIA by 19.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after purchasing an additional 215,150 shares in the last quarter. American Century Companies Inc. increased its holdings in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after purchasing an additional 251,650 shares during the last quarter. LSV Asset Management raised its position in shares of PHINIA by 0.7% in the 2nd quarter. LSV Asset Management now owns 780,569 shares of the company’s stock valued at $30,723,000 after purchasing an additional 5,792 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of PHINIA by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock valued at $20,969,000 after buying an additional 57,068 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Analyst Ratings Changes

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

PHINIA Stock Performance

PHIN stock opened at $55.25 on Friday. PHINIA Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $57.23. The company has a market capitalization of $2.32 billion, a P/E ratio of 23.71 and a beta of 0.86. The company has a 50-day simple moving average of $48.37 and a 200 day simple moving average of $45.44. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 earnings per share. Sell-side analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

PHINIA 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.