PHINIA Inc. (NYSE:PHIN) Shares Purchased by Advisory Research Inc.

Advisory Research Inc. grew its position in PHINIA Inc. (NYSE:PHIN - Free Report) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 415,140 shares of the company's stock after purchasing an additional 44,690 shares during the quarter. PHINIA makes up about 3.3% of Advisory Research Inc.'s investment portfolio, making the stock its 4th largest holding. Advisory Research Inc. owned approximately 0.99% of PHINIA worth $19,997,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Smartleaf Asset Management LLC boosted its holdings in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock valued at $33,000 after purchasing an additional 418 shares during the last quarter. KBC Group NV grew its holdings in PHINIA by 45.8% during the 4th quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after buying an additional 685 shares in the last quarter. AlphaQuest LLC bought a new stake in PHINIA in the 4th quarter worth approximately $173,000. State of Michigan Retirement System purchased a new stake in shares of PHINIA during the 4th quarter worth approximately $203,000. Finally, Optimize Financial Inc bought a new position in shares of PHINIA during the 4th quarter valued at approximately $206,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Down 1.8 %

Shares of PHIN traded down $0.74 during midday trading on Monday, reaching $40.46. 145,395 shares of the stock were exchanged, compared to its average volume of 610,042. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The company's 50 day moving average is $44.40 and its two-hundred day moving average is $47.83. The company has a market capitalization of $1.61 billion, a P/E ratio of 23.12 and a beta of 1.56. PHINIA Inc. has a 52 week low of $36.25 and a 52 week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last announced 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 business had revenue of $833.00 million during the quarter, compared to analysts' expectations of $811.94 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. On average, sell-side analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Friday, February 28th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.67%. The ex-dividend date of this dividend was Friday, February 28th. This is a positive change from PHINIA's previous quarterly dividend of $0.25. PHINIA's payout ratio is 61.71%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PHIN. CL King assumed coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 target price for the company. UBS Group restated a "neutral" rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Northland Securities began coverage on shares of PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. Bank of America started coverage on PHINIA in a research note on Thursday, April 10th. They set a "buy" rating and a $53.00 target price on the stock. Finally, Northland Capmk upgraded PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, PHINIA presently has an average rating of "Moderate Buy" and a consensus target price of $52.60.

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.