ING Groep NV cut its position in PHINIA Inc. (NYSE:PHIN – Free Report) by 61.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 70,000 shares of the company’s stock after selling 112,500 shares during the quarter. ING Groep NV’s holdings in PHINIA were worth $2,120,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the company. Commonwealth Equity Services LLC bought a new stake in shares of PHINIA during the 3rd quarter valued at $407,000. Bank of New York Mellon Corp bought a new stake in shares of PHINIA during the 3rd quarter valued at $8,709,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of PHINIA during the 3rd quarter valued at $217,000. Oregon Public Employees Retirement Fund bought a new stake in shares of PHINIA during the 3rd quarter valued at $375,000. Finally, Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of PHINIA during the 3rd quarter valued at $370,000. 90.94% of the stock is currently owned by institutional investors.
PHINIA Trading Down 1.2 %
PHINIA stock opened at $44.58 on Wednesday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.71 and a quick ratio of 1.27. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $46.08. The stock has a fifty day moving average of $39.57 and a 200-day moving average of $33.02.
PHINIA Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Friday, May 24th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.24%.
Analyst Ratings Changes
Separately, Morgan Stanley started coverage on PHINIA in a research report on Monday, March 11th. They set an “overweight” rating and a $50.00 target price for the company.
Check Out Our Latest Stock Report on PHIN
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.
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