Bank of New York Mellon Corp Has $26.22 Million Holdings in PHINIA Inc. $PHIN

Bank of New York Mellon Corp cut its position in shares of PHINIA Inc. (NYSE:PHIN) by 1.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 383,075 shares of the company’s stock after selling 6,883 shares during the period. Bank of New York Mellon Corp owned about 1.02% of PHINIA worth $26,218,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock valued at $282,740,000 after buying an additional 44,599 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in PHINIA by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,301,996 shares of the company’s stock valued at $144,314,000 after acquiring an additional 45,214 shares during the period. Voss Capital LP increased its stake in PHINIA by 2.8% in the fourth quarter. Voss Capital LP now owns 1,727,468 shares of the company’s stock valued at $108,295,000 after acquiring an additional 47,468 shares during the period. Goldman Sachs Group Inc. raised its position in PHINIA by 6.4% in the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after purchasing an additional 58,875 shares in the last quarter. Finally, Freestone Grove Partners LP lifted its stake in PHINIA by 1,206.1% during the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after purchasing an additional 514,442 shares during the period. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at PHINIA

In other PHINIA news, VP Samantha Pombier sold 2,227 shares of the stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $82.36, for a total value of $183,415.72. Following the transaction, the vice president owned 6,637 shares of the company’s stock, valued at approximately $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction dated Wednesday, June 10th. The stock was sold at an average price of $80.61, for a total value of $100,762.50. Following the transaction, the vice president owned 27,009 shares in the company, valued at approximately $2,177,195.49. This trade represents a 4.42% decrease in their position. The disclosure for this sale is available in the SEC filing. 2.20% of the stock is owned by insiders.

PHINIA Price Performance

PHIN opened at $78.40 on Tuesday. PHINIA Inc. has a one year low of $48.94 and a one year high of $86.93. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The company’s 50 day simple moving average is $79.15 and its 200-day simple moving average is $74.08. The stock has a market capitalization of $2.90 billion, a P/E ratio of 21.90 and a beta of 1.13.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.16. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm had revenue of $878.00 million during the quarter, compared to analysts’ expectations of $838.67 million. During the same quarter in the previous year, the company posted $0.94 EPS. PHINIA’s revenue was up 10.3% on a year-over-year basis. Sell-side analysts anticipate that PHINIA Inc. will post 6.24 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th were paid a $0.30 dividend. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Tuesday, June 9th. PHINIA’s dividend payout ratio (DPR) is 33.52%.

Analyst Ratings Changes

PHIN has been the topic of a number of analyst reports. KeyCorp started coverage on PHINIA in a research report on Friday, June 12th. They issued an “overweight” rating and a $105.00 price target on the stock. UBS Group upped their target price on shares of PHINIA from $76.00 to $81.00 and gave the stock a “neutral” rating in a report on Thursday, July 9th. Wall Street Zen raised shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, May 2nd. Zacks Research lowered shares of PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Weiss Ratings raised shares of PHINIA from a “buy (b-)” rating to a “buy (b)” rating in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and five have assigned 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 a consensus target price of $75.67.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.