PHINIA Inc. (NYSE:PHIN) Short Interest Down 16.6% in December

PHINIA Inc. (NYSE:PHIN) saw a large decline in short interest in December. As of December 31st, there was short interest totalling 2,510,000 shares, a decline of 16.6% from the December 15th total of 3,010,000 shares. Approximately 6.1% of the company’s shares are sold short. Based on an average trading volume of 468,200 shares, the days-to-cover ratio is presently 5.4 days.

Institutional Trading of PHINIA

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in shares of PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock valued at $65,000 after acquiring an additional 271 shares during the last quarter. Quantinno Capital Management LP boosted its holdings in PHINIA by 2.4% in the third quarter. Quantinno Capital Management LP now owns 14,637 shares of the company’s stock valued at $674,000 after purchasing an additional 345 shares in the last quarter. Old North State Wealth Management LLC increased its stake in PHINIA by 4.9% in the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company’s stock valued at $442,000 after purchasing an additional 451 shares during the last quarter. KBC Group NV increased its stake in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares during the last quarter. Finally, CHICAGO TRUST Co NA raised its holdings in PHINIA by 8.1% during the third quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company’s stock worth $439,000 after purchasing an additional 713 shares in the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

PHINIA Stock Up 0.5 %

PHIN stock traded up $0.26 during mid-day trading on Friday, reaching $51.49. The company had a trading volume of 319,758 shares, compared to its average volume of 570,126. PHINIA has a fifty-two week low of $27.86 and a fifty-two week high of $57.23. The company has a market capitalization of $2.17 billion, a price-to-earnings ratio of 22.10 and a beta of 1.35. 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 fifty day simple moving average of $51.29 and a 200 day simple moving average of $47.47.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results 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. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company had revenue of $839.00 million during the quarter, compared to the consensus estimate of $829.82 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The firm’s quarterly revenue was down 6.4% on a year-over-year basis. Analysts forecast that PHINIA will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.94%. The ex-dividend date was Monday, November 25th. PHINIA’s dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

Several research analysts have recently commented on PHIN shares. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th. UBS Group raised their price target on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a research report on Thursday.

PHINIA Company 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.