MassMutual Private Wealth & Trust FSB Sells 10,588 Shares of PHINIA Inc. (NYSE:PHIN)

MassMutual Private Wealth & Trust FSB cut its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 78.8% in the first 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 quarter. MassMutual Private Wealth & Trust FSB's holdings in PHINIA were worth $121,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the period. KBC Group NV increased its position in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock worth $105,000 after purchasing an additional 685 shares during the period. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA during the 4th quarter worth about $144,000. AlphaQuest LLC acquired a new position in shares of PHINIA during the 4th quarter worth about $173,000. Finally, State of Michigan Retirement System bought a new stake in shares of PHINIA in the 4th quarter valued at about $203,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

PHINIA Stock Up 2.1%

Shares of PHIN traded up $0.88 on Thursday, hitting $42.43. The company's stock had a trading volume of 638,316 shares, compared to its average volume of 588,132. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm's fifty day moving average price is $41.72 and its 200-day moving average price is $46.72. 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 $1.69 billion, a price-to-earnings ratio of 24.25 and a beta of 1.59.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (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 during the quarter, compared to analyst estimates of $813.24 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. PHINIA's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date is Monday, June 2nd. PHINIA's dividend payout ratio (DPR) is currently 61.36%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price target (down from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. BNP Paribas cut PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Bank of America upped their price target on PHINIA from $53.00 to $55.00 and gave the company a "buy" rating in a research note on Thursday, May 15th. Morgan Stanley lowered their price target on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. Finally, CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 price target for the company. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, PHINIA presently has a consensus rating of "Moderate Buy" and a consensus price target of $51.17.

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.