PHINIA Inc. (NYSE:PHIN) Stake Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its holdings in PHINIA Inc. (NYSE:PHIN) by 12.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,570 shares of the company’s stock after selling 939 shares during the period. Mutual of America Capital Management LLC’s holdings in PHINIA were worth $302,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of PHIN. Vanguard Group Inc. increased its position in PHINIA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after purchasing an additional 102,769 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in PHINIA by 147.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock worth $1,404,000 after purchasing an additional 21,731 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in PHINIA by 36.9% in the 1st quarter. Public Employees Retirement System of Ohio now owns 26,753 shares of the company’s stock worth $1,028,000 after purchasing an additional 7,214 shares during the last quarter. Hancock Whitney Corp acquired a new position in PHINIA in the 1st quarter worth about $551,000. Finally, Swedbank AB acquired a new position in PHINIA in the 1st quarter worth about $982,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

PHINIA Stock Performance

Shares of NYSE PHIN opened at $55.25 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The firm has a market cap of $2.32 billion, a price-to-earnings ratio of 23.71 and a beta of 0.86. The business’s 50-day simple moving average is $48.37 and its 200-day simple moving average is $45.44. PHINIA Inc. has a 52 week low of $25.19 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. The business had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm’s revenue for the quarter was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities research analysts expect that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Monday, November 25th. PHINIA’s dividend payout ratio (DPR) 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.