Ethic Inc. Decreases Stock Position in PHINIA Inc. $PHIN

Ethic Inc. trimmed its holdings in PHINIA Inc. (NYSE:PHIN) by 16.6% during the second quarter, Holdings Channel.com reports. The fund owned 14,331 shares of the company’s stock after selling 2,860 shares during the period. Ethic Inc.’s holdings in PHINIA were worth $640,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brooklyn Investment Group lifted its holdings in shares of PHINIA by 853.0% in the first quarter. Brooklyn Investment Group now owns 1,582 shares of the company’s stock valued at $67,000 after purchasing an additional 1,416 shares in the last quarter. One Wealth Advisors LLC acquired a new position in shares of PHINIA during the 1st quarter worth approximately $210,000. Advisors Asset Management Inc. purchased a new stake in PHINIA in the 1st quarter valued at approximately $220,000. Eisler Capital Management Ltd. acquired a new stake in PHINIA during the 1st quarter valued at $223,000. Finally, Oppenheimer Asset Management Inc. increased its position in PHINIA by 11.3% during the first quarter. Oppenheimer Asset Management Inc. now owns 5,498 shares of the company’s stock worth $233,000 after buying an additional 560 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Performance

PHINIA stock opened at $54.88 on Tuesday. The company has a market cap of $2.13 billion, a price-to-earnings ratio of 21.19, a price-to-earnings-growth ratio of 0.53 and a beta of 1.48. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $59.88. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.86 and a quick ratio of 1.36. The stock’s 50-day moving average is $56.57 and its 200-day moving average is $49.30.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.0%. The ex-dividend date was Friday, August 22nd. PHINIA’s payout ratio is currently 41.70%.

Analyst Upgrades and Downgrades

PHIN has been the topic of a number of analyst reports. Bank of America increased their price objective on PHINIA from $60.00 to $64.00 and gave the company a “buy” rating in a research note on Wednesday, September 10th. Wall Street Zen raised shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Saturday, July 26th. UBS Group boosted their price objective on shares of PHINIA from $55.00 to $62.00 and gave the company a “neutral” rating in a research report on Monday, October 6th. Morgan Stanley upped their price objective on shares of PHINIA from $46.00 to $48.00 and gave the company an “equal weight” rating in a research note on Tuesday, August 12th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of PHINIA in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $55.83.

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.