Foundry Partners LLC Purchases Shares of 171,864 PHINIA Inc. (NYSE:PHIN)

Foundry Partners LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 171,864 shares of the company's stock, valued at approximately $7,911,000. Foundry Partners LLC owned about 0.41% of PHINIA at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in PHIN. GAMMA Investing LLC increased its holdings in PHINIA by 100.4% during the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company's stock worth $45,000 after buying an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PHINIA in the 2nd quarter valued at about $49,000. EntryPoint Capital LLC bought a new position in PHINIA during the first quarter worth about $60,000. Rothschild Investment LLC acquired a new position in PHINIA during the second quarter worth approximately $66,000. Finally, KBC Group NV lifted its position in shares of PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company's stock valued at $69,000 after buying an additional 494 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Morgan Stanley cut shares of PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 target price for the company. in a research note on Wednesday, September 25th. UBS Group assumed coverage on PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price objective on the stock.

PHINIA Stock Up 1.2 %

Shares of PHIN opened at $52.73 on Thursday. The company has a current ratio of 1.93, a quick ratio of 1.46 and a debt-to-equity ratio of 0.58. PHINIA Inc. has a 12 month low of $25.19 and a 12 month high of $53.72. The firm's 50 day moving average is $47.50 and its 200-day moving average is $45.00. The stock has a market capitalization of $2.22 billion, a PE ratio of 22.63 and a beta of 0.86.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.38. The company had revenue of $839.00 million for the quarter, compared to analysts' expectations of $829.82 million. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. PHINIA's revenue was down 6.4% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Equities research analysts forecast that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.90%. PHINIA's dividend payout ratio (DPR) is currently 42.92%.

Insider Activity at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the stock in a transaction on Wednesday, August 28th. The stock was 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 directly owns 29,540 shares in the company, valued at approximately $1,409,353.40. This represents a 2.96 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.50% of the stock is currently owned by insiders.

PHINIA 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.

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