PHINIA Inc. (NYSE:PHIN) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC boosted its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 3,302.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 52,062 shares of the company's stock after buying an additional 50,532 shares during the quarter. GAMMA Investing LLC owned approximately 0.13% of PHINIA worth $2,209,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PHIN. Millennium Management LLC increased its holdings in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after buying an additional 535,222 shares during the last quarter. First Trust Advisors LP increased its holdings in PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after buying an additional 458,650 shares during the last quarter. Voss Capital LP increased its holdings in PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after buying an additional 342,081 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after buying an additional 253,345 shares during the last quarter. Finally, Brandywine Global Investment Management LLC purchased a new position in PHINIA in the fourth quarter valued at $6,874,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

Shares of PHIN traded down $1.69 during mid-day trading on Friday, hitting $42.10. 462,063 shares of the company's stock were exchanged, compared to its average volume of 582,616. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The firm has a market capitalization of $1.68 billion, a P/E ratio of 24.06 and a beta of 1.55. The business's 50 day moving average is $42.11 and its two-hundred day moving average is $46.26. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing the consensus estimate of $1.04 by ($0.10). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The business had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same quarter last year, the company posted $1.08 EPS. PHINIA's quarterly revenue was down 7.8% on a year-over-year basis. On average, equities analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be paid a dividend of $0.27 per share. The ex-dividend date is Monday, June 2nd. This represents a $1.08 annualized dividend and a dividend yield of 2.57%. PHINIA's dividend payout ratio (DPR) is 61.36%.

Analysts Set New Price Targets

PHIN has been the topic of several recent analyst reports. Bank of America increased their target price on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. CL King began coverage on PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. UBS Group reaffirmed a "neutral" rating and set a $45.00 price objective (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a report on Wednesday, April 23rd. Finally, Morgan Stanley dropped their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, PHINIA presently has a consensus rating of "Moderate Buy" and an average target price of $51.17.

Insider Transactions at PHINIA

In other PHINIA news, CEO Brady D. Ericson bought 10,000 shares of the firm's stock in a transaction dated Wednesday, April 30th. The stock was acquired at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer now owns 436,486 shares of the company's stock, valued at approximately $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Meggan M. Walsh acquired 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The stock was purchased at an average price of $42.71 per share, with a total value of $59,794.00. Following the transaction, the director now owns 7,492 shares of the company's stock, valued at $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's 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.