Point72 Asia Singapore Pte. Ltd. Purchases New Shares in PHINIA Inc. (NYSE:PHIN)

Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA Inc. (NYSE:PHIN) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 1,245 shares of the company’s stock, valued at approximately $49,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Texas Permanent School Fund Corp increased its stake in shares of PHINIA by 1.3% in the 1st quarter. Texas Permanent School Fund Corp now owns 40,858 shares of the company’s stock valued at $1,570,000 after purchasing an additional 534 shares during the last quarter. GAMMA Investing LLC raised its position in shares of PHINIA by 100.4% during 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. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA in the 1st quarter worth approximately $37,000. O Shaughnessy Asset Management LLC lifted its holdings in PHINIA by 15.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock valued at $343,000 after buying an additional 1,169 shares during the period. Finally, Long Road Investment Counsel LLC lifted its stake in shares of PHINIA by 10.3% in the 2nd quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company’s stock valued at $508,000 after purchasing an additional 1,200 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Activity

In related news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction on 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 in the company, valued at approximately $1,409,353.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company.

PHINIA Stock Down 2.0 %

PHIN opened at $46.03 on Tuesday. The company’s 50-day moving average price is $45.84 and its two-hundred day moving average price is $42.67. The company has a quick ratio of 1.38, a current ratio of 1.85 and a debt-to-equity ratio of 0.47. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $52.19. The stock has a market cap of $2.01 billion, a price-to-earnings ratio of 15.84 and a beta of 0.86.

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

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were issued a $0.25 dividend. The ex-dividend date was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.17%.

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.