MassMutual Private Wealth & Trust FSB Decreases Stake in PHINIA Inc. (NYSE:PHIN)

MassMutual Private Wealth & Trust FSB lessened its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 78.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,856 shares of the company's stock after selling 10,588 shares during the period. MassMutual Private Wealth & Trust FSB's holdings in PHINIA were worth $121,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its stake in shares of PHINIA by 16.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 10,550 shares of the company's stock worth $508,000 after buying an additional 1,511 shares in the last quarter. Universal Beteiligungs und Servicegesellschaft mbH purchased a new position in shares of PHINIA during the fourth quarter valued at approximately $948,000. Western Wealth Management LLC purchased a new position in shares of PHINIA during the fourth quarter valued at approximately $313,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of PHINIA by 22.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 87,792 shares of the company's stock valued at $4,229,000 after purchasing an additional 16,363 shares during the last quarter. Finally, Twinbeech Capital LP raised its holdings in shares of PHINIA by 672.9% during the fourth quarter. Twinbeech Capital LP now owns 91,640 shares of the company's stock valued at $4,414,000 after purchasing an additional 79,784 shares during the last quarter. Institutional investors own 90.94% of the company's stock.

Analyst Ratings Changes

PHIN has been the subject of several research reports. BNP Paribas cut shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective for the company. in a report on Wednesday, April 23rd. Morgan Stanley decreased their price objective on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective for the company. UBS Group reissued a "neutral" rating and set a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, Bank of America upped 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. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $51.17.

Insider Activity

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

PHINIA Stock Down 2.9%

Shares of NYSE:PHIN traded down $1.24 during trading on Wednesday, reaching $41.74. The stock had a trading volume of 364,106 shares, compared to its average volume of 586,154. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23. The company has a market capitalization of $1.66 billion, a P/E ratio of 23.85 and a beta of 1.59. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The firm's 50-day simple moving average is $41.75 and its 200 day simple moving average is $46.83.

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

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Monday, June 2nd will be given 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 2.59%. PHINIA's payout ratio is 61.36%.

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.