Brandywine Global Investment Management LLC purchased a new stake in PHINIA Inc. (NYSE:PHIN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 142,712 shares of the company's stock, valued at approximately $6,874,000. Brandywine Global Investment Management LLC owned about 0.34% of PHINIA at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHIN. Smartleaf Asset Management LLC increased its position in shares of PHINIA by 149.3% in the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after acquiring an additional 418 shares during the last quarter. KBC Group NV grew its stake in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC acquired a new position in shares of PHINIA during the 4th quarter worth approximately $173,000. State of Michigan Retirement System bought a new stake in shares of PHINIA during the 4th quarter worth approximately $203,000. Finally, Paloma Partners Management Co acquired a new stake in shares of PHINIA in the 3rd quarter valued at approximately $258,000. 90.94% of the stock is owned by institutional investors.
PHINIA Stock Performance
Shares of PHIN traded down $1.67 during trading hours on Friday, hitting $38.03. The company had a trading volume of 592,472 shares, compared to its average volume of 609,136. The business has a fifty day moving average of $46.98 and a 200-day moving average of $48.52. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of 21.73 and a beta of 1.55. PHINIA Inc. has a 12 month low of $36.10 and a 12 month high of $57.23.
PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.09). The company had revenue of $833.00 million during the quarter, compared to the consensus estimate of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Equities analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.
PHINIA Increases Dividend
The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were issued a dividend of $0.27 per share. This is a boost from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 annualized dividend and a yield of 2.84%. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio (DPR) is presently 61.71%.
Analyst Ratings Changes
A number of equities analysts recently weighed in on the stock. CL King initiated coverage on shares of PHINIA in a report on Monday, March 24th. They set a "buy" rating and a $54.00 target price on the stock. UBS Group boosted their price objective on shares of PHINIA from $55.00 to $57.00 and gave the stock a "buy" rating in a research note on Thursday, January 16th. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Finally, Northland Securities began coverage on PHINIA in a research report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, PHINIA currently has an average rating of "Buy" and an average target price of $55.50.
Check Out Our Latest Analysis on PHIN
PHINIA Profile
(
Free Report)
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.
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