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

Chesapeake Capital Corp IL bought a new stake in PHINIA Inc. (NYSE:PHIN) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 11,442 shares of the company’s stock, valued at approximately $538,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PHIN. Allspring Global Investments Holdings LLC increased its position in PHINIA by 144.9% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 5,740 shares of the company’s stock valued at $221,000 after buying an additional 3,396 shares in the last quarter. Sei Investments Co. increased its holdings in PHINIA by 4.5% during the 1st quarter. Sei Investments Co. now owns 136,883 shares of the company’s stock worth $5,262,000 after purchasing an additional 5,876 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in PHINIA by 89.3% during the 1st quarter. Russell Investments Group Ltd. now owns 250,543 shares of the company’s stock worth $9,628,000 after purchasing an additional 118,172 shares in the last quarter. US Bancorp DE increased its holdings in PHINIA by 78.4% during the 1st 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. Finally, Vanguard Group Inc. increased its holdings in PHINIA by 1.9% during the 1st quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after purchasing an additional 102,769 shares in the last quarter. 90.94% of the stock is owned by institutional investors.

PHINIA Trading Up 0.5 %

Shares of PHIN stock opened at $52.37 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. PHINIA Inc. has a 52-week low of $25.10 and a 52-week high of $53.72. The company has a market capitalization of $2.20 billion, a PE ratio of 22.48 and a beta of 0.86. The business’s fifty day moving average is $47.08 and its 200 day moving average is $44.76.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, October 31st. The company reported $1.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million for 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% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 earnings per share. On average, equities research analysts anticipate that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Dividend Announcement

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. UBS Group began coverage on PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price for the company. Morgan Stanley downgraded 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.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the transaction, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. This trade represents a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.50% of the stock is owned by insiders.

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.