Mutual of America Capital Management LLC Lowers Holdings in PHINIA Inc. (NYSE:PHIN)

Mutual of America Capital Management LLC decreased its position in PHINIA Inc. (NYSE:PHIN) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,944 shares of the company’s stock after selling 427 shares during the period. Mutual of America Capital Management LLC’s holdings in PHINIA were worth $252,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Millennium Management LLC boosted its holdings in shares of PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company’s stock valued at $116,810,000 after purchasing an additional 535,222 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company’s stock valued at $98,653,000 after purchasing an additional 253,345 shares during the period. First Trust Advisors LP boosted its holdings in shares of PHINIA by 32.6% in the fourth quarter. First Trust Advisors LP now owns 1,866,894 shares of the company’s stock valued at $89,928,000 after purchasing an additional 458,650 shares during the period. Voss Capital LP boosted its holdings in shares of PHINIA by 31.8% in the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company’s stock valued at $68,261,000 after purchasing an additional 342,081 shares during the period. Finally, LSV Asset Management boosted its holdings in shares of PHINIA by 20.7% in the first quarter. LSV Asset Management now owns 1,004,591 shares of the company’s stock valued at $42,625,000 after purchasing an additional 172,355 shares during the period. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

Shares of PHIN stock opened at $56.01 on Thursday. The business’s fifty day simple moving average is $47.44 and its 200-day simple moving average is $45.52. The company has a market cap of $2.18 billion, a PE ratio of 21.63, a PEG ratio of 0.50 and a beta of 1.51. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $57.23.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.28. The business had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. The business’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.88 earnings per share. Analysts expect that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 12th. Investors of record on Friday, August 22nd will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 22nd. PHINIA’s dividend payout ratio is presently 41.70%.

Insider Activity

In other news, Director Meggan M. Walsh bought 1,400 shares of the business’s stock in a transaction that occurred on Thursday, May 22nd. The shares were purchased at an average cost of $42.71 per share, with a total value of $59,794.00. Following the transaction, the director directly owned 7,492 shares in the company, valued at approximately $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 2.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wall Street Zen upgraded PHINIA from a “hold” rating to a “strong-buy” rating in a report on Saturday, July 26th. Bank of America upped their target price on PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, May 15th. BNP Paribas lowered PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Wednesday, April 23rd. Morgan Stanley upped their target price on PHINIA from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday. Finally, UBS Group restated a “neutral” rating and set a $55.00 target price (up previously from $52.00) on shares of PHINIA in a report on Friday, July 25th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $53.17.

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.