PHINIA Inc. (NYSE:PHIN – Get Free Report)’s share price fell 14.6% during trading on Thursday following a weaker than expected earnings announcement. The company traded as low as $71.11 and last traded at $70.1130. Approximately 106,090 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 385,336 shares. The stock had previously closed at $82.13.
The company reported $1.53 EPS for the quarter, missing analysts’ consensus estimates of $1.58 by ($0.05). The company had revenue of $940.00 million during the quarter, compared to analyst estimates of $918.83 million. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.
PHINIA Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th were issued a $0.30 dividend. The ex-dividend date of this dividend was Tuesday, June 9th. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. PHINIA’s dividend payout ratio (DPR) is currently 33.52%.
Analyst Ratings Changes
Check Out Our Latest Stock Report on PHINIA
Insider Activity at PHINIA
In related news, VP Michael Coetzee sold 1,250 shares of the firm’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $80.61, for a total transaction of $100,762.50. Following the completion of the transaction, the vice president owned 27,009 shares of the company’s stock, valued at $2,177,195.49. This trade represents a 4.42% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Samantha Pombier sold 2,227 shares of the business’s stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $82.36, for a total transaction of $183,415.72. Following the transaction, the vice president owned 6,637 shares of the company’s stock, valued at $546,623.32. This represents a 25.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders own 2.20% of the company’s stock.
Institutional Investors Weigh In On PHINIA
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lodge Hill Capital LLC raised its stake in shares of PHINIA by 450.8% during the 1st quarter. Lodge Hill Capital LLC now owns 2,381,150 shares of the company’s stock valued at $162,966,000 after buying an additional 1,948,820 shares during the last quarter. ION Fund Management Ltd purchased a new stake in shares of PHINIA in the fourth quarter worth about $32,285,000. Freestone Grove Partners LP boosted its stake in shares of PHINIA by 1,206.1% in the fourth quarter. Freestone Grove Partners LP now owns 557,097 shares of the company’s stock worth $34,924,000 after buying an additional 514,442 shares during the last quarter. UBS Group AG boosted its stake in shares of PHINIA by 222.9% in the third quarter. UBS Group AG now owns 466,053 shares of the company’s stock worth $26,789,000 after buying an additional 321,708 shares during the last quarter. Finally, Amundi grew its holdings in PHINIA by 4,268.6% during the first quarter. Amundi now owns 200,693 shares of the company’s stock worth $13,735,000 after acquiring an additional 196,099 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.
PHINIA Stock Performance
The firm has a fifty day moving average of $79.49 and a 200 day moving average of $74.28. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.82 and a quick ratio of 1.32. The stock has a market capitalization of $2.66 billion, a price-to-earnings ratio of 20.06 and a beta of 1.13.
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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.
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