MetLife Investment Management LLC Purchases 13,277 Shares of PHINIA Inc. (NYSE:PHIN)

MetLife Investment Management LLC increased its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 115.3% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,790 shares of the company's stock after buying an additional 13,277 shares during the period. MetLife Investment Management LLC owned about 0.06% of PHINIA worth $1,141,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in PHINIA by 23.9% in the 3rd quarter. GAMMA Investing LLC now owns 1,403 shares of the company's stock worth $65,000 after acquiring an additional 271 shares during the last quarter. Old North State Wealth Management LLC boosted its position in PHINIA by 4.9% during the third quarter. Old North State Wealth Management LLC now owns 9,589 shares of the company's stock worth $442,000 after purchasing an additional 451 shares during the period. KBC Group NV increased its stake in shares of PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company's stock worth $69,000 after purchasing an additional 494 shares in the last quarter. CHICAGO TRUST Co NA raised its position in shares of PHINIA by 8.1% in the third quarter. CHICAGO TRUST Co NA now owns 9,539 shares of the company's stock valued at $439,000 after purchasing an additional 713 shares during the period. Finally, Long Road Investment Counsel LLC boosted its holdings in PHINIA by 10.3% in the 2nd quarter. Long Road Investment Counsel LLC now owns 12,906 shares of the company's stock worth $508,000 after buying an additional 1,200 shares during the period. Institutional investors own 90.94% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have 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 on the stock. in a report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They set a "buy" rating and a $55.00 price objective on the stock.

PHINIA Price Performance

PHINIA stock traded up $0.23 during midday trading on Friday, reaching $53.41. 376,903 shares of the stock were exchanged, compared to its average volume of 402,374. PHINIA Inc. has a 52 week low of $26.08 and a 52 week high of $57.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The firm has a market cap of $2.25 billion, a PE ratio of 22.93 and a beta of 1.10. The company's fifty day moving average is $49.24 and its 200-day moving average is $45.94.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts' consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million during the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The business's revenue for the quarter was down 6.4% on a year-over-year basis. During the same period in the previous year, the business earned $0.53 EPS. On average, sell-side analysts forecast that PHINIA Inc. will post 3.44 EPS for the current year.

PHINIA Announces Dividend

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 given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.87%. PHINIA's dividend payout ratio (DPR) is presently 42.92%.

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.