PHINIA Inc. (NYSE:PHIN) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC reduced its position in shares of PHINIA Inc. (NYSE:PHIN) by 16.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 235,200 shares of the company’s stock after selling 44,680 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in PHINIA were worth $10,826,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC boosted its position in shares of PHINIA by 100.4% in the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after acquiring an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA in the second quarter worth approximately $49,000. Rothschild Investment LLC acquired a new stake in shares of PHINIA in the second quarter worth approximately $66,000. KBC Group NV boosted its position in shares of PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after acquiring an additional 494 shares during the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of PHINIA in the second quarter worth approximately $76,000. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Trading Down 1.8 %

PHIN opened at $55.29 on Wednesday. The firm has a market capitalization of $2.33 billion, a P/E ratio of 23.73 and a beta of 1.10. The firm’s 50 day moving average is $48.74 and its 200-day moving average is $45.70. PHINIA Inc. has a 52-week low of $26.08 and a 52-week high of $57.23. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58.

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

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.81%. PHINIA’s dividend payout ratio is currently 42.92%.

Analyst Ratings Changes

PHIN has been the topic of several research reports. UBS Group initiated coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target on the stock. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th.

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.