Amalgamated Bank Sells 1,179 Shares of PHINIA Inc. (NYSE:PHIN)

Amalgamated Bank lowered its holdings in PHINIA Inc. (NYSE:PHIN) by 8.4% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 12,828 shares of the company’s stock after selling 1,179 shares during the quarter. Amalgamated Bank’s holdings in PHINIA were worth $590,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in PHIN. Jacobs Levy Equity Management Inc. grew its stake in shares of PHINIA by 3,027.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after acquiring an additional 424,168 shares during the last quarter. Great Lakes Advisors LLC grew its position in PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock worth $13,328,000 after purchasing an additional 317,935 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after purchasing an additional 251,650 shares during the period. Dimensional Fund Advisors LP raised its position in shares of PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after buying an additional 215,150 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in shares of PHINIA by 89.3% in the first quarter. Russell Investments Group Ltd. now owns 250,543 shares of the company’s stock valued at $9,628,000 after buying an additional 118,172 shares during the period. 90.94% of the stock is owned by institutional investors.

Insider Buying and Selling at PHINIA

In other news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on PHIN shares. UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley cut PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Wednesday, September 25th.

PHINIA Price Performance

Shares of PHINIA stock opened at $52.37 on Friday. The firm has a market cap of $2.20 billion, a P/E ratio of 22.48 and a beta of 0.86. The firm’s 50-day simple moving average is $47.08 and its 200-day simple moving average is $44.72. PHINIA Inc. has a twelve month low of $25.10 and a twelve month high of $53.72. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same period in the previous year, the business earned $0.53 earnings per share. The company’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, research analysts expect that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.91%. PHINIA’s dividend payout ratio is currently 42.92%.

PHINIA 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.