Banyan Capital Management Inc. Has $11.13 Million Position in PHINIA Inc. (NYSE:PHIN)

Banyan Capital Management Inc. decreased its holdings in PHINIA Inc. (NYSE:PHIN) by 0.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,796 shares of the company’s stock after selling 2,254 shares during the period. PHINIA comprises approximately 6.4% of Banyan Capital Management Inc.’s investment portfolio, making the stock its 6th biggest holding. Banyan Capital Management Inc.’s holdings in PHINIA were worth $11,130,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. US Bancorp DE increased its position in shares of PHINIA by 78.4% during the first quarter. US Bancorp DE now owns 38,110 shares of the company’s stock worth $1,465,000 after purchasing an additional 16,750 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of PHINIA by 147.0% during the first quarter. Price T Rowe Associates Inc. MD now owns 36,512 shares of the company’s stock valued at $1,404,000 after buying an additional 21,731 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of PHINIA by 157.3% during the second quarter. SG Americas Securities LLC now owns 100,845 shares of the company’s stock valued at $3,969,000 after buying an additional 61,650 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its holdings in shares of PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock valued at $16,839,000 after buying an additional 424,168 shares during the last quarter. Finally, Swedbank AB purchased a new stake in shares of PHINIA during the first quarter valued at $982,000. Institutional investors own 90.94% of the company’s stock.

Insiders Place Their Bets

In other PHINIA news, VP Michael Coetzee sold 900 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.50% of the company’s stock.

PHINIA Price Performance

NYSE:PHIN opened at $52.37 on Monday. PHINIA Inc. has a one year low of $25.10 and a one year high of $53.72. 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 market cap of $2.20 billion, a price-to-earnings ratio of 22.48 and a beta of 0.86. The firm’s fifty day moving average is $47.08 and its two-hundred day moving average is $44.79.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating the consensus estimate of $0.79 by $0.38. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm’s revenue was down 6.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.53 earnings per share. Research analysts expect that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.91%. PHINIA’s dividend payout ratio (DPR) is currently 42.92%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PHIN. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a report on Wednesday, September 25th. UBS Group began coverage on shares of PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective on the stock.

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.