SummerHaven Investment Management LLC Makes New Investment in PHINIA Inc. $PHIN

Key Points

• SummerHaven Investment Management bought 18,653 PHINIA shares worth approximately $1.1 million, while institutional investors collectively own 90.94% of the company.
• PHINIA’s stock opened at $57.88, well below its 52-week high of $86.93. The company recently reported $1.53 in quarterly EPS, slightly missing estimates, despite revenue exceeding expectations.
• Analyst sentiment remains moderately positive, with a consensus “Moderate Buy” rating and an average price target of $83.50; PHINIA also pays a quarterly dividend of $0.30, yielding about 2.1% annually.

SummerHaven Investment Management LLC purchased a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 18,653 shares of the company's stock, valued at approximately $1,109,000. SummerHaven Investment Management LLC owned about 0.05% of PHINIA at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nykredit A S bought a new position in shares of PHINIA during the 2nd quarter worth $38,000. Integrated Wealth Concepts LLC bought a new stake in shares of PHINIA during the 2nd quarter valued at about $39,000. EverSource Wealth Advisors LLC lifted its position in PHINIA by 49.7% during the first quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company's stock valued at $77,000 after purchasing an additional 376 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in PHINIA in the second quarter valued at $84,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of PHINIA during the 2nd quarter valued at about $104,000. Hedge funds and other institutional investors own 90.94% of the company's stock.

Insider Activity

In related news, CFO Chris P. Gropp sold 13,500 shares of the firm's stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $66.71, for a total transaction of $900,585.00. Following the sale, the chief financial officer owned 43,823 shares in the company, valued at approximately $2,923,432.33. This trade represents a 23.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew Logar sold 1,257 shares of PHINIA stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $66.33, for a total transaction of $83,376.81. Following the completion of the transaction, the senior vice president directly owned 15,576 shares of the company's stock, valued at $1,033,156.08. The trade was a 7.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 55,270 shares of company stock valued at $3,698,592 in the last three months. Corporate insiders own 2.20% of the company's stock.

PHINIA Trading Up 0.2%

PHIN opened at $57.88 on Friday. The company has a quick ratio of 1.34, a current ratio of 1.81 and a debt-to-equity ratio of 0.63. The stock's fifty day moving average is $65.11 and its two-hundred day moving average is $72.70. The company has a market capitalization of $2.12 billion, a P/E ratio of 16.58 and a beta of 1.19. PHINIA Inc. has a 52 week low of $51.28 and a 52 week high of $86.93.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $1.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.57 by ($0.04). The company had revenue of $940.00 million for the quarter, compared to the consensus estimate of $918.83 million. PHINIA had a net margin of 3.73% and a return on equity of 13.86%. Analysts forecast that PHINIA Inc. will post 6.18 earnings per share for the current year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date was Friday, September 4th. PHINIA's payout ratio is currently 34.38%.

Analyst Upgrades and Downgrades

PHIN has been the topic of several recent analyst reports. Northland Securities set a $98.00 target price on PHINIA in a research note on Friday, July 31st. UBS Group decreased their price target on PHINIA from $80.00 to $68.00 and set a "neutral" rating for the company in a research note on Wednesday, October 7th. Zacks Research raised shares of PHINIA from a "strong sell" rating to a "hold" rating in a research report on Tuesday, September 29th. Weiss Ratings downgraded PHINIA from a "buy (b)" rating to a "buy (b-)" rating in a research note on Wednesday, September 16th. Finally, Wall Street Zen lowered PHINIA from a "buy" rating to a "hold" rating in a research note on Saturday, October 10th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $83.50.

PHINIA Company Profile

PHINIA Inc NYSE: PHIN is a global automotive technology company that develops and manufactures fuel systems, electrical systems and electrification components for commercial vehicles, passenger vehicles and other mobility applications. The company serves original equipment manufacturers as well as the automotive aftermarket.

PHINIA's products include gasoline and diesel fuel-injection systems, fuel pumps and modules, injectors, ignition coils, glow plugs, alternators and starters. Its electrification portfolio includes components such as high-voltage systems, battery-related technologies and power-conversion products designed to support hybrid and electric vehicles.

The company also supplies replacement parts and service solutions through its aftermarket business, including products marketed under the Delphi brand.

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