PHINIA Inc. (NYSE:PHIN) is Kestrel Investment Management Corp’s 10th Largest Position

Kestrel Investment Management Corp trimmed its holdings in shares of PHINIA Inc. (NYSE:PHIN) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 169,800 shares of the company’s stock after selling 32,700 shares during the period. PHINIA comprises approximately 3.5% of Kestrel Investment Management Corp’s holdings, making the stock its 10th biggest holding. Kestrel Investment Management Corp owned 0.36% of PHINIA worth $5,143,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. Gladius Capital Management LP purchased a new stake in PHINIA during the 3rd quarter worth $133,000. AE Wealth Management LLC acquired a new stake in PHINIA during the third quarter valued at approximately $797,000. IFP Advisors Inc acquired a new stake in PHINIA during the third quarter valued at approximately $88,000. Radnor Capital Management LLC acquired a new stake in shares of PHINIA during the third quarter valued at approximately $360,000. Finally, SG Americas Securities LLC acquired a new stake in shares of PHINIA during the third quarter valued at approximately $2,207,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on shares of PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price for the company.

PHINIA Stock Performance

PHINIA stock traded up $0.19 during mid-day trading on Friday, reaching $37.46. The company had a trading volume of 503,628 shares, compared to its average volume of 658,455. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $40.12. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.68 and a quick ratio of 1.25. The company has a 50 day moving average of $35.97 and a 200-day moving average of $30.59.

PHINIA (NYSE:PHIN) last issued its earnings results on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The business had revenue of $882.00 million during the quarter, compared to the consensus estimate of $900.00 million. During the same period last year, the business posted $1.75 EPS. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, equities research analysts predict that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were issued a $0.25 dividend. The ex-dividend date was Friday, February 23rd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.67%.

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.