Amalgamated Bank Sells 1,179 Shares of PHINIA Inc. (NYSE:PHIN)

Amalgamated Bank cut its holdings in PHINIA Inc. (NYSE:PHIN) by 8.4% during the third quarter, Holdings Channel.com reports. The fund owned 12,828 shares of the company’s stock after selling 1,179 shares during the period. Amalgamated Bank’s holdings in PHINIA were worth $590,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in PHIN. Vanguard Group Inc. grew its holdings in shares of PHINIA by 1.9% in the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock valued at $207,848,000 after buying an additional 102,769 shares during the period. Dimensional Fund Advisors LP increased its holdings in PHINIA by 19.5% during the second quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock worth $51,869,000 after buying an additional 215,150 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of PHINIA by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after purchasing an additional 251,650 shares during the period. LSV Asset Management lifted its position in shares of PHINIA by 0.7% in the second quarter. LSV Asset Management now owns 780,569 shares of the company’s stock valued at $30,723,000 after buying an additional 5,792 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in PHINIA by 12.0% during the second quarter. Bank of New York Mellon Corp now owns 532,759 shares of the company’s stock worth $20,969,000 after purchasing an additional 57,068 shares during the period. 90.94% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PHIN. UBS Group began coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company. Morgan Stanley lowered 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.

PHINIA Stock Performance

Shares of PHIN stock opened at $52.37 on Friday. PHINIA Inc. has a one year low of $25.10 and a one year high of $53.72. The firm has a 50-day moving average of $47.08 and a 200-day moving average of $44.72. The company has a market cap of $2.20 billion, a P/E ratio of 22.48 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. During the same quarter last year, the company earned $0.53 earnings per share. The company’s revenue was down 6.4% on a year-over-year basis. Equities research analysts forecast that PHINIA Inc. will post 3.27 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given 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 yield of 1.91%. PHINIA’s payout ratio is 42.92%.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 900 shares of PHINIA 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 sale, the vice president now directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is currently owned by insiders.

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.