Rhumbline Advisers Reduces Position in PHINIA Inc. (NYSE:PHIN)

Rhumbline Advisers trimmed its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 6.5% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 124,083 shares of the company's stock after selling 8,610 shares during the quarter. Rhumbline Advisers owned 0.30% of PHINIA worth $5,265,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Millennium Management LLC boosted its stake in shares of PHINIA by 28.3% during the 4th quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after purchasing an additional 535,222 shares during the period. First Trust Advisors LP lifted its stake in PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares during the last quarter. Voss Capital LP boosted its position in shares of PHINIA by 31.8% during 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 period. Dimensional Fund Advisors LP grew its stake in shares of PHINIA by 14.1% during 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 stake in shares of PHINIA in the fourth quarter worth approximately $6,874,000. Institutional investors own 90.94% of the company's stock.

Insiders Place Their Bets

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

PHINIA Stock Down 3.9%

Shares of NYSE PHIN traded down $1.69 during midday trading on Friday, reaching $42.10. 462,063 shares of the company's stock traded hands, compared to its average volume of 582,692. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 24.06 and a beta of 1.55. The stock's 50 day simple moving average is $42.02 and its 200-day simple moving average is $46.35. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results 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 company had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same period last year, the business posted $1.08 EPS. The firm's revenue was down 7.8% compared to the same quarter last year. On average, analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

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

Analyst Ratings Changes

PHIN has been the subject of a number of recent analyst reports. UBS Group restated 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. Morgan Stanley reduced their price target on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 19th. CL King assumed 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. BNP Paribas downgraded shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 target price on the stock. in a research note on Wednesday, April 23rd. Finally, Bank of America raised their target price on shares of PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PHINIA presently has an average rating of "Moderate Buy" and an average price target of $51.17.

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.