Twelve Points Wealth Management LLC Sells 219 Shares of PHINIA Inc. (NYSE:PHIN)

Twelve Points Wealth Management LLC lowered its position in shares of PHINIA Inc. (NYSE:PHIN) by 4.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,863 shares of the company’s stock after selling 219 shares during the quarter. Twelve Points Wealth Management LLC’s holdings in PHINIA were worth $224,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in PHIN. Fidelis Capital Partners LLC bought a new position in shares of PHINIA during the first quarter valued at about $37,000. GAMMA Investing LLC raised its position in PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after purchasing an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA during the 2nd quarter valued at approximately $49,000. EntryPoint Capital LLC purchased a new stake in PHINIA in the 1st quarter worth approximately $60,000. Finally, Central Pacific Bank Trust Division bought a new stake in shares of PHINIA in the 1st quarter worth approximately $63,000. Institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of recent analyst reports. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research report on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price objective on the stock.

Insider Activity

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The stock was 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 $1,409,353.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.50% of the stock is currently owned by company insiders.

PHINIA Price Performance

Shares of PHIN stock opened at $45.76 on Friday. The firm has a market cap of $2.09 billion, a P/E ratio of 24.47 and a beta of 0.85. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $52.19. The business’s 50 day moving average price is $46.43 and its 200-day moving average price is $43.31. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.38 and a current ratio of 1.85.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The firm had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $889.00 million. PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The company’s revenue for the quarter was down 2.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. On average, equities research analysts anticipate that PHINIA Inc. will post 3.27 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s payout ratio is presently 53.48%.

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.