Chesapeake Capital Corp IL Buys Shares of 11,442 PHINIA Inc. (NYSE:PHIN)

Chesapeake Capital Corp IL bought a new stake in PHINIA Inc. (NYSE:PHIN) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 11,442 shares of the company’s stock, valued at approximately $538,000.

A number of other large investors have also recently modified their holdings of PHIN. GAMMA Investing LLC boosted 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 valued at $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA during the 2nd quarter valued at $49,000. EntryPoint Capital LLC acquired a new stake in shares of PHINIA during the 1st quarter valued at $60,000. Rothschild Investment LLC acquired a new stake in shares of PHINIA during the 2nd quarter valued at $66,000. Finally, KBC Group NV boosted its holdings in shares of PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after acquiring an additional 494 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 2.96 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.50% of the company’s stock.

PHINIA Stock Up 0.5 %

Shares of NYSE:PHIN opened at $52.37 on Friday. The firm 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 quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12-month low of $25.10 and a 12-month high of $53.72. The business has a fifty day simple moving average of $47.08 and a 200 day simple moving average of $44.76.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.38. The business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period last year, the company earned $0.53 EPS. Analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on PHIN shares. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective 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 report on Wednesday, September 25th.

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.