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Chesapeake Capital Corp IL Takes $538,000 Position in PHINIA Inc. (NYSE:PHIN)

PHINIA logo with Auto/Tires/Trucks background

Chesapeake Capital Corp IL acquired a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,442 shares of the company's stock, valued at approximately $538,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PHIN. GAMMA Investing LLC grew its holdings in shares of PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock worth $65,000 after purchasing an additional 271 shares during the period. Old North State Wealth Management LLC boosted its holdings in PHINIA by 4.9% in the 3rd quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company's stock valued at $442,000 after purchasing an additional 451 shares in the last quarter. KBC Group NV grew its position in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company's stock worth $69,000 after buying an additional 494 shares during the period. CHICAGO TRUST Co NA boosted its position in shares of PHINIA by 8.1% in the 3rd quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company's stock worth $439,000 after buying an additional 713 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC boosted its stake in shares of PHINIA by 15.0% during the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company's stock valued at $343,000 after acquiring an additional 1,169 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley lowered shares of PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a research note on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price target for the company.

Get Our Latest Research Report on PHINIA

PHINIA Stock Performance

PHIN stock traded up $0.27 during midday trading on Friday, hitting $52.37. The stock had a trading volume of 414,120 shares, compared to its average volume of 403,903. The firm has a market capitalization of $2.20 billion, a price-to-earnings ratio of 22.48 and a beta of 0.86. The stock has a 50-day simple moving average of $47.08 and a 200 day simple moving average of $44.79. PHINIA Inc. has a 52 week low of $25.10 and a 52 week high of $53.72. 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 - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.38. The business had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The firm's revenue was down 6.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.53 earnings per share. As a group, equities research analysts anticipate that PHINIA Inc. will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be issued a $0.25 dividend. The ex-dividend date is Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.91%. PHINIA's dividend payout ratio is currently 42.92%.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the business's stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total value of $42,939.00. Following the transaction, the vice president now directly owns 29,540 shares of the company's stock, valued at $1,409,353.40. The trade was a 2.96 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.50% of the company's stock.

About PHINIA

(Free Report)

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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Institutional Ownership by Quarter for PHINIA (NYSE:PHIN)

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