PHINIA Inc. (NYSE:PHIN) Shares Purchased by Gabelli Funds LLC

Gabelli Funds LLC raised its position in PHINIA Inc. (NYSE:PHIN) by 45.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,500 shares of the company’s stock after purchasing an additional 21,000 shares during the quarter. Gabelli Funds LLC’s holdings in PHINIA were worth $2,657,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Fidelis Capital Partners LLC bought a new stake in shares of PHINIA during the first quarter valued at about $37,000. GAMMA Investing LLC raised its position in shares of PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after buying an additional 567 shares in the last quarter. Quarry LP acquired a new stake in shares of PHINIA in the 4th quarter worth approximately $37,000. Cape Investment Advisory Inc. bought a new position in shares of PHINIA in the fourth quarter valued at approximately $39,000. Finally, EntryPoint Capital LLC acquired a new position in shares of PHINIA during the first quarter valued at approximately $60,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 8.0 %

NYSE PHIN opened at $46.66 on Thursday. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $52.19. The company has a market capitalization of $2.04 billion, a P/E ratio of 15.59 and a beta of 0.86. The company’s 50 day simple moving average is $45.75 and its 200 day simple moving average is $42.42. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. 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 prior year, the company posted $1.61 EPS. PHINIA’s quarterly revenue was down 2.1% on a year-over-year basis. Equities research analysts expect that PHINIA Inc. will post 3.37 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.14%.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 1.50% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Wednesday. UBS Group initiated coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective for the company.

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.