Cornercap Investment Counsel Inc. Sells 7,093 Shares of PHINIA Inc. (NYSE:PHIN)

Cornercap Investment Counsel Inc. lowered its stake in PHINIA Inc. (NYSE:PHIN) by 54.6% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 5,902 shares of the company’s stock after selling 7,093 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in PHINIA were worth $272,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its holdings in shares of PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after buying an additional 271 shares in the last quarter. Old North State Wealth Management LLC boosted its holdings in shares of PHINIA by 4.9% during the 3rd quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after buying an additional 451 shares in the last quarter. 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 buying an additional 494 shares in the last quarter. CHICAGO TRUST Co NA boosted its holdings in shares of PHINIA by 8.1% during the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock valued at $439,000 after buying an additional 713 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of PHINIA by 15.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock valued at $343,000 after buying an additional 1,169 shares in the last quarter. Institutional investors own 90.94% of the company’s stock.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the business’s 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 owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The trade was a 2.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts have recently commented on PHIN shares. Morgan Stanley cut shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Wednesday, September 25th. UBS Group started 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 Price Performance

PHIN opened at $52.37 on Monday. The stock has a 50-day moving average price of $47.08 and a 200-day moving average price of $44.79. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The firm has a market cap of $2.20 billion, a PE ratio of 22.48 and a beta of 0.86. PHINIA Inc. has a 1 year low of $25.10 and a 1 year high of $53.72.

PHINIA (NYSE:PHIN) last issued its earnings results 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 business had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. During the same quarter in the previous year, the firm earned $0.53 EPS. PHINIA’s revenue was down 6.4% on a year-over-year basis. Sell-side analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio (DPR) is 42.92%.

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.