Dynamic Technology Lab Private Ltd Sells 6,630 Shares of PHINIA Inc. (NYSE:PHIN)

Dynamic Technology Lab Private Ltd decreased its position in PHINIA Inc. (NYSE:PHIN) by 27.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 17,794 shares of the company’s stock after selling 6,630 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in PHINIA were worth $819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of PHIN. GAMMA Investing LLC lifted its holdings in shares of PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after buying an additional 567 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new stake in PHINIA in the second quarter worth about $49,000. KBC Group NV grew its holdings in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after acquiring an additional 494 shares in the last quarter. Rothschild Investment LLC purchased a new position in PHINIA during the 2nd quarter valued at about $66,000. Finally, Meeder Asset Management Inc. bought a new stake in shares of PHINIA in the 2nd quarter valued at about $76,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

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

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.38. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA’s revenue was down 6.4% compared to the same quarter last year. During the same period last year, the firm earned $0.53 earnings per share. On average, equities analysts forecast that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.81%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. UBS Group began coverage on shares of 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 cut 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 Company 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.