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

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

Analyst Ratings Changes

PHIN has been the topic of several recent analyst reports. UBS Group boosted their price objective on PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday. Morgan Stanley lowered shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th.

Institutional Investors Weigh In On PHINIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHIN. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA in the second quarter worth $49,000. GAMMA Investing LLC raised its stake in shares of PHINIA by 23.9% during the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company’s stock worth $65,000 after purchasing an additional 271 shares in the last quarter. KBC Group NV raised its stake in shares of PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after purchasing an additional 494 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of PHINIA by 4,502.9% during the 3rd quarter. International Assets Investment Management LLC now owns 3,222 shares of the company’s stock valued at $148,000 after buying an additional 3,152 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of PHINIA in the 3rd quarter valued at approximately $203,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 1.4 %

Shares of PHINIA stock traded down $0.74 during midday trading on Thursday, hitting $51.24. The company’s stock had a trading volume of 350,510 shares, compared to its average volume of 393,651. PHINIA has a 1-year low of $27.86 and a 1-year 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 firm has a market capitalization of $2.16 billion, a P/E ratio of 21.99 and a beta of 1.35. The stock has a 50-day simple moving average of $51.30 and a 200-day simple moving average of $47.31.

PHINIA (NYSE:PHIN) last announced its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS 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 analyst estimates of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The business’s quarterly revenue was down 6.4% compared to the same quarter last year. During the same period last year, the company posted $0.53 EPS. As a group, sell-side analysts expect that PHINIA will post 3.44 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Shareholders of record on Monday, November 25th were paid a $0.25 dividend. The ex-dividend date was Monday, November 25th. This represents a $1.00 annualized dividend and a yield of 1.95%. PHINIA’s dividend payout ratio is presently 42.92%.

About PHINIA

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.