CWA Asset Management Group LLC acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 16,843 shares of the company's stock, valued at approximately $775,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in shares of PHINIA by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company's stock valued at $207,848,000 after acquiring an additional 102,769 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of PHINIA by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company's stock worth $51,869,000 after purchasing an additional 215,150 shares during the period. American Century Companies Inc. lifted its position 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 worth $39,718,000 after purchasing an additional 251,650 shares during the period. LSV Asset Management boosted its stake in shares of PHINIA by 0.7% during the second quarter. LSV Asset Management now owns 780,569 shares of the company's stock valued at $30,723,000 after purchasing an additional 5,792 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings 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 valued at $20,969,000 after buying an additional 57,068 shares during the period. 90.94% of the stock is currently owned by institutional investors.
In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 1.50% of the company's stock.
NYSE:PHIN opened at $52.07 on Monday. The firm has a 50 day moving average of $46.55 and a 200 day moving average of $44.33. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $52.81. The stock has a market capitalization of $2.19 billion, a price-to-earnings ratio of 22.35 and a beta of 0.86.
PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm had revenue of $839.00 million during the quarter, compared to analysts' expectations of $829.82 million. During the same quarter last year, the firm earned $0.53 EPS. The business's quarterly revenue was down 6.4% on a year-over-year basis. As a group, sell-side analysts anticipate that PHINIA Inc. will post 3.27 earnings per share for the current fiscal year.
Several brokerages have issued reports on PHIN. UBS Group initiated coverage on PHINIA in a research report on Wednesday, September 4th. They set a "buy" rating and a $55.00 target price on the stock. Morgan Stanley downgraded PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective on the stock. in a research report on Wednesday, September 25th.
View Our Latest Research Report on 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.
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