PHINIA (NYSE:PHIN) Shares Gap Down After Earnings Miss

Shares of PHINIA Inc. (NYSE:PHIN) gapped down prior to trading on Tuesday after the company announced weaker than expected quarterly earnings. The stock had previously closed at $42.79, but opened at $38.77. PHINIA shares last traded at $41.24, with a volume of 99,460 shares trading hands.

The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm had revenue of $868.00 million during the quarter, compared to the consensus estimate of $889.00 million. During the same quarter in the previous year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was down 2.1% compared to the same quarter last year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 14th. Stockholders of record on Friday, May 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.28%. The ex-dividend date was Thursday, May 23rd.

Insider Transactions at PHINIA

In other news, VP Robert Boyle sold 1,828 shares of the business’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $43.77, for a total value of $80,011.56. Following the transaction, the vice president now owns 36,337 shares of the company’s stock, valued at $1,590,470.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 1.50% of the company’s stock.

Institutional Investors Weigh In On PHINIA

A number of hedge funds have recently bought and sold shares of the business. Parkside Financial Bank & Trust grew its holdings 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 purchasing an additional 882 shares during the last quarter. Quarry LP bought a new position in shares of PHINIA in the fourth quarter worth about $37,000. Fidelis Capital Partners LLC bought a new position in shares of PHINIA in the first quarter worth about $37,000. Cape Investment Advisory Inc. bought a new position in shares of PHINIA in the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC grew its holdings in shares of PHINIA by 100.4% in the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Trading Down 2.0 %

The stock’s fifty day moving average price is $42.46 and its 200 day moving average price is $38.34. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.27. The stock has a market capitalization of $2.00 billion and a P/E ratio of 13.08.

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.