Alaska Permanent Fund Corp Raises Stock Position in PHINIA Inc. (NYSE:PHIN)

Alaska Permanent Fund Corp lifted its position in PHINIA Inc. (NYSE:PHIN) by 151.9% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 59,383 shares of the company’s stock after buying an additional 35,805 shares during the period. Alaska Permanent Fund Corp owned approximately 0.13% of PHINIA worth $2,282,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of PHIN. Vanguard Group Inc. purchased a new position in shares of PHINIA in the 3rd quarter worth approximately $142,304,000. Harris Associates L P purchased a new stake in PHINIA during the 3rd quarter worth approximately $53,654,000. Pacer Advisors Inc. grew its position in PHINIA by 58.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock worth $71,187,000 after purchasing an additional 865,016 shares during the last quarter. Covalis Capital LLP purchased a new stake in PHINIA during the 3rd quarter worth approximately $16,132,000. Finally, Norges Bank purchased a new stake in PHINIA during the 4th quarter worth approximately $16,896,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Down 1.6 %

PHIN stock opened at $40.30 on Friday. The firm’s fifty day simple moving average is $41.83 and its 200-day simple moving average is $35.62. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $46.08.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million for the quarter, compared to the consensus estimate of $800.00 million. PHINIA had a net margin of 3.06% and a return on equity of 7.52%. The firm’s revenue for the quarter was up 3.4% compared to the same quarter last year. Equities analysts anticipate that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Announces Dividend

The firm also recently disclosed 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 2.48%. The ex-dividend date of this dividend was Thursday, May 23rd.

Insider Activity

In other news, VP Robert Boyle sold 1,828 shares of the company’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 sale, the vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $1,590,470.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

Separately, Morgan Stanley started coverage on shares of PHINIA in a research report on Monday, March 11th. They set an “overweight” rating and a $50.00 target price on the stock.

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.