PHINIA Inc. (NYSE:PHIN) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC lessened its stake in shares of PHINIA Inc. (NYSE:PHIN) by 12.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 46,500 shares of the company’s stock after selling 6,430 shares during the quarter. Gabelli Funds LLC owned 0.10% of PHINIA worth $1,787,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA in the first quarter worth about $37,000. Parkside Financial Bank & Trust lifted its stake in shares of PHINIA by 816.7% in the fourth quarter. Parkside Financial Bank & Trust now owns 990 shares of the company’s stock worth $30,000 after acquiring an additional 882 shares in the last quarter. Quarry LP acquired a new position in shares of PHINIA in the fourth quarter worth about $37,000. Cape Investment Advisory Inc. acquired a new position in shares of PHINIA in the fourth quarter worth about $39,000. Finally, EntryPoint Capital LLC acquired a new position in shares of PHINIA in the first quarter worth about $60,000. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Up 3.1 %

Shares of NYSE:PHIN traded up $1.32 during trading on Friday, hitting $44.40. The company’s stock had a trading volume of 655,860 shares, compared to its average volume of 955,961. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.27 and a current ratio of 1.71. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $47.51. The stock’s 50-day moving average price is $42.56 and its two-hundred day moving average price is $38.05. The company has a market capitalization of $2.03 billion and a PE ratio of 9.04.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. As a group, sell-side analysts expect that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 14th. Investors of record on Friday, May 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.25%. The ex-dividend date was Thursday, May 23rd. PHINIA’s dividend payout ratio is currently 20.37%.

Insider Activity at PHINIA

In other news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.77, for a total transaction of $80,011.56. Following the completion of the transaction, the vice president now directly owns 36,337 shares of the company’s stock, valued at $1,590,470.49. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by corporate 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.