American Century Companies Inc. Raises Position in PHINIA Inc. (NYSE:PHIN)

American Century Companies Inc. raised its holdings in PHINIA Inc. (NYSE:PHIN) by 33.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 1,009,106 shares of the company’s stock after acquiring an additional 251,650 shares during the quarter. American Century Companies Inc.’s holdings in PHINIA were worth $39,718,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC purchased a new stake in shares of PHINIA during the 1st quarter worth $37,000. GAMMA Investing LLC lifted its position in shares of PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares during the last quarter. Quarry LP purchased a new stake in shares of PHINIA during the 4th quarter worth $37,000. Cape Investment Advisory Inc. purchased a new stake in shares of PHINIA during the 4th quarter worth $39,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of PHINIA during the 1st quarter worth $60,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Price Performance

Shares of PHIN opened at $48.07 on Wednesday. PHINIA Inc. has a 1-year low of $23.46 and a 1-year high of $49.31. The stock has a market cap of $2.20 billion, a PE ratio of 9.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. The firm has a fifty day moving average price of $44.93 and a 200 day moving average price of $41.77.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The company had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $889.00 million. During the same period last year, the firm earned $1.61 earnings per share. PHINIA’s revenue was down 2.1% on a year-over-year basis. As a group, sell-side analysts anticipate that PHINIA Inc. will post 3.37 EPS for the current year.

PHINIA Dividend Announcement

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

Analyst Ratings Changes

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

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of the business’s stock in a transaction on 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 sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at $1,409,353.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 1.50% of the stock is owned by corporate insiders.

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.