3,584 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by AlphaQuest LLC

AlphaQuest LLC acquired a new position in shares of PHINIA Inc. (NYSE:PHIN) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 3,584 shares of the company’s stock, valued at approximately $173,000.

A number of other hedge funds also recently added to or reduced their stakes in PHIN. Principal Financial Group Inc. lifted its position in PHINIA by 1.1% during the 3rd quarter. Principal Financial Group Inc. now owns 227,742 shares of the company’s stock worth $10,483,000 after acquiring an additional 2,422 shares during the period. Victory Capital Management Inc. lifted its position in PHINIA by 27.5% during the 3rd quarter. Victory Capital Management Inc. now owns 187,294 shares of the company’s stock worth $8,621,000 after acquiring an additional 40,416 shares during the period. KBC Group NV lifted its position in 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 acquiring an additional 494 shares during the period. Royce & Associates LP acquired a new stake in PHINIA during the 3rd quarter worth approximately $695,000. Finally, Chesapeake Capital Corp IL acquired a new stake in PHINIA during the 3rd quarter worth approximately $538,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PHIN. Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 price objective for the company. UBS Group raised their price target on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th.

PHINIA Stock Up 5.5 %

PHIN opened at $42.95 on Monday. PHINIA Inc. has a 12 month low of $36.10 and a 12 month high of $57.23. The stock has a market capitalization of $1.75 billion, a P/E ratio of 24.54 and a beta of 1.38. The business has a 50 day simple moving average of $48.89 and a 200-day simple moving average of $48.88. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $833.00 million during the quarter, compared to analysts’ expectations of $811.94 million. On average, equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. This is an increase from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.51%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s dividend payout ratio (DPR) is presently 61.71%.

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.