Hotchkis & Wiley Capital Management LLC Trims Stock Position in PHINIA Inc. (NYSE:PHIN)

Hotchkis & Wiley Capital Management LLC cut its position in shares of PHINIA Inc. (NYSE:PHIN) by 16.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 235,200 shares of the company’s stock after selling 44,680 shares during the period. Hotchkis & Wiley Capital Management LLC owned approximately 0.56% of PHINIA worth $10,826,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of PHIN. Pacer Advisors Inc. purchased a new stake in shares of PHINIA in the 3rd quarter valued at approximately $80,154,000. Great Lakes Advisors LLC raised its stake in shares of PHINIA by 1,537.3% in the 2nd quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock valued at $13,328,000 after acquiring an additional 317,935 shares during the period. American Century Companies Inc. raised its stake in shares of PHINIA by 33.2% in the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after acquiring an additional 251,650 shares during the period. Empowered Funds LLC purchased a new stake in shares of PHINIA in the 3rd quarter valued at approximately $10,504,000. Finally, Dimensional Fund Advisors LP raised its stake in shares of PHINIA by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after acquiring an additional 215,150 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Price Performance

Shares of PHIN opened at $55.29 on Wednesday. The firm’s 50 day moving average price is $48.74 and its 200 day moving average price is $45.70. PHINIA Inc. has a fifty-two week low of $26.08 and a fifty-two week high of $57.23. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. The company has a market cap of $2.33 billion, a P/E ratio of 23.73 and a beta of 1.10.

PHINIA (NYSE:PHIN) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million during the quarter, compared to analysts’ expectations of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. PHINIA’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.53 EPS. On average, research analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Shareholders of record on Monday, November 25th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.81%. PHINIA’s payout ratio is currently 42.92%.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on PHIN shares. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Wednesday, September 25th. UBS Group began coverage on shares of PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 target price on the stock.

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.