Dynamic Technology Lab Private Ltd Cuts Position in PHINIA Inc. (NYSE:PHIN)

Dynamic Technology Lab Private Ltd decreased its position in PHINIA Inc. (NYSE:PHIN) by 27.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 17,794 shares of the company’s stock after selling 6,630 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in PHINIA were worth $819,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of PHIN. Vanguard Group Inc. increased its position in PHINIA by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after purchasing an additional 102,769 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of PHINIA by 15.0% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock worth $343,000 after buying an additional 1,169 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of PHINIA by 147.0% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock worth $1,404,000 after buying an additional 21,731 shares during the last quarter. Public Employees Retirement System of Ohio raised its position in shares of PHINIA by 36.9% during the 1st quarter. Public Employees Retirement System of Ohio now owns 26,753 shares of the company’s stock valued at $1,028,000 after buying an additional 7,214 shares in the last quarter. Finally, Hancock Whitney Corp bought a new position in shares of PHINIA in the 1st quarter valued at about $551,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

PHIN has been the topic of several analyst reports. UBS Group began coverage on PHINIA in a research note 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 target price on the stock. in a research report on Wednesday, September 25th.

PHINIA Price Performance

PHIN stock opened at $55.24 on Thursday. The stock has a market cap of $2.32 billion, a PE ratio of 23.71 and a beta of 0.86. PHINIA Inc. has a 12 month low of $25.19 and a 12 month high of $57.23. The company has a 50-day moving average price of $48.23 and a 200 day moving average price of $45.37. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business earned $0.53 earnings per share. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. Equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current 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 paid a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. PHINIA’s payout ratio is 42.92%.

About 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.