MetLife Investment Management LLC Cuts Stake in PHINIA Inc. $PHIN

MetLife Investment Management LLC reduced its position in PHINIA Inc. (NYSE:PHIN) by 5.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 24,507 shares of the company’s stock after selling 1,439 shares during the quarter. MetLife Investment Management LLC owned about 0.06% of PHINIA worth $1,040,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PHIN. Northern Trust Corp grew its holdings in PHINIA by 10.9% in the fourth quarter. Northern Trust Corp now owns 496,063 shares of the company’s stock worth $23,895,000 after purchasing an additional 48,571 shares during the last quarter. Jane Street Group LLC grew its holdings in PHINIA by 426.0% in the fourth quarter. Jane Street Group LLC now owns 128,966 shares of the company’s stock worth $6,212,000 after purchasing an additional 104,450 shares during the last quarter. Mercer Global Advisors Inc. ADV grew its holdings in PHINIA by 14.1% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 9,034 shares of the company’s stock worth $435,000 after purchasing an additional 1,118 shares during the last quarter. Algert Global LLC grew its holdings in PHINIA by 14.0% in the fourth quarter. Algert Global LLC now owns 33,738 shares of the company’s stock worth $1,625,000 after purchasing an additional 4,146 shares during the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in PHINIA in the fourth quarter worth $299,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PHIN has been the topic of several analyst reports. Morgan Stanley lifted their price target on shares of PHINIA from $46.00 to $48.00 and gave the stock an “equal weight” rating in a report on Tuesday, August 12th. UBS Group reiterated a “neutral” rating and set a $55.00 price objective (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. Bank of America lifted their price objective on shares of PHINIA from $53.00 to $55.00 and gave the stock a “buy” rating in a research note on Thursday, May 15th. Finally, Wall Street Zen upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $53.17.

PHINIA Trading Up 0.0%

NYSE PHIN opened at $58.54 on Friday. The company has a market capitalization of $2.28 billion, a PE ratio of 22.60, a P/E/G ratio of 0.52 and a beta of 1.53. The company has a fifty day moving average of $52.33 and a 200 day moving average of $46.35. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $59.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36.

PHINIA (NYSE:PHIN) last posted its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.99 by $0.28. The company had revenue of $890.00 million during the quarter, compared to the consensus estimate of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. During the same period in the previous year, the firm posted $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. Research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The firm 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 dividend of $0.27 per share. The ex-dividend date is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. PHINIA’s payout ratio is currently 41.70%.

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.