SummerHaven Investment Management LLC Makes New $1.11 Million Investment in PHINIA Inc. $PHIN

SummerHaven Investment Management LLC acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the 3rd quarter, HoldingsChannel reports. The fund acquired 18,653 shares of the company’s stock, valued at approximately $1,109,000.

Several other institutional investors have also modified their holdings of PHIN. Nykredit A S purchased a new stake in shares of PHINIA during the second quarter worth about $38,000. Integrated Wealth Concepts LLC acquired a new position in shares of PHINIA during the 2nd quarter worth about $39,000. EverSource Wealth Advisors LLC lifted its stake in PHINIA by 49.7% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,132 shares of the company’s stock valued at $77,000 after buying an additional 376 shares in the last quarter. C M Bidwell & Associates Ltd. acquired a new position in shares of PHINIA during the second quarter valued at approximately $84,000. Finally, Public Employees Retirement System of Ohio acquired a new position in shares of PHINIA during the second quarter valued at approximately $104,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

Insider Activity

In related news, VP Todd L. Anderson sold 3,056 shares of the stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $66.41, for a total value of $202,948.96. Following the completion of the transaction, the vice president directly owned 26,736 shares in the company, valued at approximately $1,775,537.76. This represents a 10.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Christopher Gustanski sold 2,097 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $66.97, for a total value of $140,436.09. Following the completion of the transaction, the vice president owned 11,301 shares of the company’s stock, valued at $756,827.97. The trade was a 15.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 55,270 shares of company stock worth $3,698,592. 2.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on PHIN. UBS Group decreased their target price on PHINIA from $80.00 to $68.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 7th. Wall Street Zen downgraded PHINIA from a “buy” rating to a “hold” rating in a research note on Saturday, October 10th. Zacks Research upgraded PHINIA from a “strong sell” rating to a “hold” rating in a report on Tuesday, September 29th. Weiss Ratings lowered PHINIA from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, September 16th. Finally, Northland Securities set a $98.00 target price on shares of PHINIA in a research note on Friday, July 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, PHINIA has a consensus rating of “Moderate Buy” and a consensus target price of $83.50.

PHINIA Trading Up 0.2%

PHIN opened at $57.88 on Friday. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.81 and a quick ratio of 1.34. The company’s 50 day simple moving average is $65.11 and its two-hundred day simple moving average is $72.70. PHINIA Inc. has a 1-year low of $51.28 and a 1-year high of $86.93. The firm has a market capitalization of $2.12 billion, a price-to-earnings ratio of 16.58 and a beta of 1.19.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, July 30th. The company reported $1.53 earnings per share for the quarter, missing the consensus estimate of $1.57 by ($0.04). The company had revenue of $940.00 million for the quarter, compared to analyst estimates of $918.83 million. PHINIA had a return on equity of 13.86% and a net margin of 3.73%. Analysts expect that PHINIA Inc. will post 6.18 EPS for the current fiscal year.

PHINIA Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were given a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend was Friday, September 4th. PHINIA’s payout ratio is presently 34.38%.

About PHINIA

PHINIA Inc (NYSE: PHIN) is a global automotive technology company that develops and manufactures fuel systems, electrical systems and electrification components for commercial vehicles, passenger vehicles and other mobility applications. The company serves original equipment manufacturers as well as the automotive aftermarket.

PHINIA’s products include gasoline and diesel fuel-injection systems, fuel pumps and modules, injectors, ignition coils, glow plugs, alternators and starters. Its electrification portfolio includes components such as high-voltage systems, battery-related technologies and power-conversion products designed to support hybrid and electric vehicles.

The company also supplies replacement parts and service solutions through its aftermarket business, including products marketed under the Delphi brand.