Kestrel Investment Management Corp Cuts Holdings in PHINIA Inc. (NYSE:PHIN)

Kestrel Investment Management Corp lowered its stake in PHINIA Inc. (NYSE:PHIN) by 16.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 169,800 shares of the company’s stock after selling 32,700 shares during the quarter. PHINIA makes up 3.5% of Kestrel Investment Management Corp’s portfolio, making the stock its 10th biggest holding. Kestrel Investment Management Corp’s holdings in PHINIA were worth $5,143,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Oakworth Capital Inc. bought a new stake in shares of PHINIA during the 3rd quarter valued at $27,000. Whittier Trust Co. purchased a new position in shares of PHINIA in the 3rd quarter worth about $29,000. Truvestments Capital LLC purchased a new position in shares of PHINIA in the 3rd quarter worth about $35,000. Fifth Third Bancorp purchased a new position in shares of PHINIA in the 3rd quarter worth about $42,000. Finally, Earnest Partners LLC purchased a new position in shares of PHINIA in the 3rd quarter worth about $42,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

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

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. The company had revenue of $882.00 million during the quarter, compared to analysts’ expectations of $900.00 million. During the same period in the prior year, the firm earned $1.75 EPS. PHINIA’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, research analysts forecast that PHINIA Inc. will post 4.05 EPS for the current fiscal year.

PHINIA Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.