Royce & Associates LP Purchases Shares of 15,109 PHINIA Inc. (NYSE:PHIN)

Royce & Associates LP acquired a new position in shares of PHINIA Inc. (NYSE:PHIN) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 15,109 shares of the company’s stock, valued at approximately $695,000.

Other hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of PHINIA during the 2nd quarter valued at about $49,000. EntryPoint Capital LLC acquired a new stake in PHINIA during the first quarter worth approximately $60,000. Rothschild Investment LLC bought a new stake in PHINIA in the second quarter worth approximately $66,000. Finally, KBC Group NV lifted its stake in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after buying an additional 494 shares during the period. 90.94% of the stock is currently owned by institutional investors.

PHINIA Stock Up 1.2 %

PHIN stock opened at $52.73 on Thursday. The stock’s 50 day simple moving average is $47.50 and its 200 day simple moving average is $45.00. The company has a market cap of $2.22 billion, a P/E ratio of 22.63 and a beta of 0.86. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. PHINIA Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $53.72.

PHINIA (NYSE:PHIN) last issued its 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. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same period in the prior year, the firm earned $0.53 earnings per share. PHINIA’s revenue for the quarter was down 6.4% on a year-over-year basis. On average, research analysts expect that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is currently 42.92%.

Insider Transactions at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $47.71, for a total transaction of $42,939.00. Following the transaction, the vice president now owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.50% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on PHIN shares. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a research report on Wednesday, September 25th. UBS Group started coverage on shares of PHINIA in a report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company.

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.