PHINIA (NYSE:PHIN) Shares Gap Down to $42.79

Shares of PHINIA Inc. (NYSE:PHIN) gapped down prior to trading on Tuesday . The stock had previously closed at $42.79, but opened at $38.77. PHINIA shares last traded at $41.24, with a volume of 99,460 shares trading hands.

PHINIA Price Performance

The company has a current ratio of 1.71, a quick ratio of 1.27 and a debt-to-equity ratio of 0.38. The business has a fifty day moving average price of $42.51 and a 200 day moving average price of $38.20.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 2.46%.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.77, for a total value of $80,011.56. Following the completion of the transaction, the vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $1,590,470.49. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHIN. Vanguard Group Inc. raised its holdings 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 acquiring an additional 102,769 shares during the period. LSV Asset Management raised its position in shares of PHINIA by 0.8% during the 1st quarter. LSV Asset Management now owns 774,777 shares of the company’s stock valued at $29,775,000 after acquiring an additional 6,267 shares during the last quarter. Norges Bank bought a new stake in shares of PHINIA in the 4th quarter valued at $16,896,000. Bank of New York Mellon Corp boosted its stake in shares of PHINIA by 12.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock worth $20,969,000 after buying an additional 57,068 shares during the last quarter. Finally, Boston Partners lifted its stake in PHINIA by 1,067.0% in the 4th quarter. Boston Partners now owns 463,710 shares of the company’s stock valued at $13,975,000 after purchasing an additional 423,974 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.