PHINIA Inc. (NYSE:PHIN) is Banyan Capital Management Inc.’s 8th Largest Position

Banyan Capital Management Inc. raised its stake in shares of PHINIA Inc. (NYSE:PHIN) by 0.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 244,050 shares of the company’s stock after purchasing an additional 530 shares during the quarter. PHINIA comprises 5.8% of Banyan Capital Management Inc.’s holdings, making the stock its 8th biggest position. Banyan Capital Management Inc.’s holdings in PHINIA were worth $9,606,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Texas Permanent School Fund Corp boosted its holdings in PHINIA by 1.3% in the first 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 boosted its stake 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 buying an additional 567 shares during the last quarter. Fidelis Capital Partners LLC purchased a new stake in shares of PHINIA in the first quarter worth about $37,000. O Shaughnessy Asset Management LLC grew its holdings in PHINIA by 15.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock worth $343,000 after acquiring an additional 1,169 shares during the period. Finally, Quarry LP acquired a new stake in PHINIA during the fourth quarter worth about $37,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

PHINIA Stock Up 3.7 %

PHIN opened at $49.59 on Friday. The company has a fifty day moving average of $45.22 and a two-hundred day moving average of $41.90. The stock has a market capitalization of $2.27 billion, a price-to-earnings ratio of 10.02 and a beta of 0.86. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $50.33. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85.

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). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The business had revenue of $868.00 million during the quarter, compared to analyst estimates of $889.00 million. During the same period in the previous year, the business posted $1.61 earnings per share. The firm’s revenue for the quarter was down 2.1% on a year-over-year basis. On average, research analysts expect that PHINIA Inc. will post 3.37 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s dividend payout ratio is presently 20.20%.

Insider Buying and Selling

In related news, VP Michael Coetzee sold 900 shares of the business’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 completion of the sale, the vice president now directly owns 29,540 shares in the company, valued at $1,409,353.40. The sale was disclosed in a document filed 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.