PHINIA (NYSE:PHIN) Sets New 12-Month High at $49.31

PHINIA Inc. (NYSE:PHIN)’s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $49.31 and last traded at $48.96, with a volume of 334722 shares trading hands. The stock had previously closed at $48.06.

Analysts Set New Price Targets

Separately, UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target for the company.

PHINIA Trading Down 0.2 %

The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of 9.71 and a beta of 0.86. The business’s 50 day moving average price is $45.08 and its 200-day moving average price is $41.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38.

PHINIA (NYSE:PHIN) last released its earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.15 by ($0.27). The business had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The business’s revenue for the quarter was down 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 EPS. Equities analysts forecast that PHINIA Inc. will post 3.37 EPS for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Friday, August 23rd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date of this dividend was Friday, August 23rd. PHINIA’s dividend payout ratio (DPR) is currently 20.20%.

Insiders Place Their Bets

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the transaction, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 1.50% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Hedge funds have recently bought and sold shares of the company. Quarry LP purchased a new stake in PHINIA during the fourth quarter worth $37,000. Fidelis Capital Partners LLC acquired a new position in shares of PHINIA during the 1st quarter worth $37,000. Cape Investment Advisory Inc. purchased a new stake in shares of PHINIA in the 4th quarter worth about $39,000. GAMMA Investing LLC increased its holdings in PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares in the last quarter. Finally, TFO Wealth Partners LLC purchased a new position in PHINIA during the 4th quarter valued at about $48,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

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.