Sanctuary Advisors LLC Invests $503,000 in PHINIA Inc. (NYSE:PHIN)

Sanctuary Advisors LLC bought a new stake in PHINIA Inc. (NYSE:PHIN) in the 2nd quarter, HoldingsChannel.com reports. The firm bought 12,947 shares of the company’s stock, valued at approximately $503,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. 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 worth $1,570,000 after acquiring an additional 534 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares in the last quarter. Fidelis Capital Partners LLC acquired a new stake in PHINIA in the 1st quarter valued at $37,000. O Shaughnessy Asset Management LLC raised 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 buying an additional 1,169 shares during the last quarter. Finally, Long Road Investment Counsel LLC lifted its stake in shares of PHINIA by 10.3% in the second quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company’s stock valued at $508,000 after buying an additional 1,200 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred 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 owns 29,540 shares in the company, valued at $1,409,353.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Morgan Stanley downgraded PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

PHINIA Trading Down 1.4 %

NYSE:PHIN opened at $45.08 on Wednesday. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $52.19. The firm has a 50-day moving average price of $46.31 and a two-hundred day moving average price of $43.27. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 24.11 and a beta of 0.85.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $889.00 million. During the same period in the previous year, the business posted $1.61 earnings per share. The business’s revenue was down 2.1% compared to the same quarter last year. On average, equities analysts expect that PHINIA Inc. will post 3.27 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were issued a dividend of $0.25 per share. The ex-dividend date was Friday, August 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.22%. PHINIA’s dividend payout ratio (DPR) is presently 53.48%.

About PHINIA

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.