Hotchkis & Wiley Capital Management LLC Sells 116,400 Shares of PHINIA Inc. $PHIN

Key Points

• Hotchkis & Wiley Capital Management has decreased its stake in PHINIA Inc. by 47.9%, now holding approximately 0.32% of the company, valued at $5.38 million.
• PHINIA reported earnings of $1.27 per share, surpassing analysts' expectations of $0.99, with revenue of $890 million for the quarter.
• The company announced a quarterly dividend of $0.27 per share, yielding 1.8%, set to be paid to shareholders on September 12th.

Hotchkis & Wiley Capital Management LLC trimmed its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 47.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 126,820 shares of the company's stock after selling 116,400 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned 0.32% of PHINIA worth $5,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the company. AlphaQuest LLC increased its stake in PHINIA by 322.5% in the first quarter. AlphaQuest LLC now owns 15,141 shares of the company's stock valued at $642,000 after acquiring an additional 11,557 shares during the last quarter. Capital Fund Management S.A. bought a new stake in shares of PHINIA during the first quarter worth $938,000. Voss Capital LP grew its stake in shares of PHINIA by 45.9% during the first quarter. Voss Capital LP now owns 2,067,342 shares of the company's stock worth $87,717,000 after buying an additional 650,261 shares during the last quarter. HITE Hedge Asset Management LLC grew its stake in shares of PHINIA by 257.0% during the first quarter. HITE Hedge Asset Management LLC now owns 325,853 shares of the company's stock worth $13,826,000 after buying an additional 234,574 shares during the last quarter. Finally, Wellington Management Group LLP grew its stake in shares of PHINIA by 10.9% during the first quarter. Wellington Management Group LLP now owns 368,844 shares of the company's stock worth $15,650,000 after buying an additional 36,400 shares during the last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Stock Performance

Shares of PHIN stock traded down $0.47 during trading on Friday, reaching $58.38. 356,661 shares of the company's stock traded hands, compared to its average volume of 392,023. The company has a market capitalization of $2.27 billion, a P/E ratio of 22.54, a PEG ratio of 0.52 and a beta of 1.53. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The firm's 50-day moving average is $50.87 and its 200 day moving average is $46.06. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.60.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings results on Thursday, July 24th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The company had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. During the same period in the prior year, the company posted $0.88 EPS. PHINIA's revenue was up 2.5% compared to the same quarter last year. PHINIA has set its FY 2025 guidance at EPS. Equities research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 annualized dividend and a dividend yield of 1.8%. PHINIA's dividend payout ratio (DPR) is currently 41.70%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PHIN. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Bank of America boosted their target price on shares of PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a report on Thursday, May 15th. UBS Group reiterated a "neutral" rating and set a $55.00 price objective (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Finally, Morgan Stanley boosted their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research report on Tuesday, August 12th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $53.17.

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.