PHINIA Inc. (NYSE:PHIN) Stake Boosted by Atom Investors LP

Atom Investors LP raised its position in shares of PHINIA Inc. (NYSE:PHIN) by 71.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,612 shares of the company’s stock after buying an additional 59,515 shares during the quarter. Atom Investors LP owned 0.34% of PHINIA worth $6,564,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC grew its holdings in shares of 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 buying an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of PHINIA in the second quarter worth approximately $49,000. Rothschild Investment LLC acquired a new stake in shares of PHINIA during the second quarter worth approximately $66,000. KBC Group NV grew its position in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new position in PHINIA in the 2nd quarter valued at approximately $76,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Performance

Shares of PHIN opened at $56.08 on Monday. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 24.07 and a beta of 0.86. The company’s fifty day moving average is $48.61 and its 200-day moving average is $45.61. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12 month low of $25.39 and a 12 month high of $57.23.

PHINIA (NYSE:PHIN) last announced its quarterly 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. The company had revenue of $839.00 million during the quarter, compared to analysts’ expectations 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 quarter in the previous year, the firm earned $0.53 earnings per share. Equities analysts expect that PHINIA Inc. will post 3.44 EPS for the current fiscal year.

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date is Monday, November 25th. PHINIA’s dividend payout ratio is 42.92%.

Analyst Ratings Changes

PHIN has been the topic of a number of research reports. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Wednesday, September 25th. UBS Group initiated coverage on PHINIA in a research note on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

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.