Maryland State Retirement & Pension System Decreases Position in PHINIA Inc. (NYSE:PHIN)

Maryland State Retirement & Pension System reduced its stake in shares of PHINIA Inc. (NYSE:PHIN) by 22.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 15,928 shares of the company’s stock after selling 4,599 shares during the quarter. Maryland State Retirement & Pension System’s holdings in PHINIA were worth $627,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PHIN. Fidelis Capital Partners LLC acquired a new stake in shares of PHINIA during the first quarter valued at about $37,000. GAMMA Investing LLC grew its stake in PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after purchasing an additional 567 shares in the last quarter. Quarry LP purchased a new stake in PHINIA during the 4th quarter worth approximately $37,000. Cape Investment Advisory Inc. acquired a new position in shares of PHINIA in the 4th quarter valued at approximately $39,000. Finally, EntryPoint Capital LLC purchased a new position in shares of PHINIA during the 1st quarter valued at approximately $60,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.77, for a total transaction 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 $1,590,470.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. The disclosure for this sale can be found here. Company insiders own 1.50% of the company’s stock.

PHINIA Stock Up 0.2 %

Shares of NYSE:PHIN opened at $47.96 on Tuesday. PHINIA Inc. has a 12-month low of $23.46 and a 12-month high of $49.31. The company has a current ratio of 1.85, a quick ratio of 1.38 and a debt-to-equity ratio of 0.47. The firm has a market cap of $2.09 billion and a PE ratio of 14.99. The company has a fifty day simple moving average of $43.62 and a 200 day simple moving average of $40.88.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The company had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. During the same period in the previous year, the firm posted $1.61 EPS. PHINIA’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, equities research analysts anticipate that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 23rd will be given a $0.25 dividend. The ex-dividend date is Friday, August 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.09%.

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.