Atom Investors LP Increases Position in PHINIA Inc. (NYSE:PHIN)

Atom Investors LP boosted its stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 71.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 142,612 shares of the company's stock after buying an additional 59,515 shares during the period. Atom Investors LP owned 0.34% of PHINIA worth $6,564,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of PHIN. GAMMA Investing LLC grew its holdings in PHINIA by 100.4% in the second 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. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PHINIA in the 2nd quarter worth $49,000. Rothschild Investment LLC purchased a new position in PHINIA during the 2nd quarter worth $66,000. KBC Group NV increased its position in PHINIA by 49.4% during the 3rd quarter. KBC Group NV now owns 1,495 shares of the company's stock valued at $69,000 after buying an additional 494 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new stake in PHINIA in the second quarter valued at about $76,000. Institutional investors own 90.94% of the company's stock.

Analysts Set New Price Targets

Several equities analysts recently weighed in on PHIN shares. UBS Group started coverage on PHINIA in a research note on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price target for the company. Morgan Stanley cut PHINIA from an "overweight" rating to an "equal weight" rating and set a $50.00 price objective for the company. in a research note on Wednesday, September 25th.

PHINIA Stock Up 0.4 %

Shares of PHIN traded up $0.22 during mid-day trading on Monday, reaching $56.30. The company's stock had a trading volume of 564,268 shares, compared to its average volume of 634,402. The company's 50 day moving average is $48.61 and its 200 day moving average is $45.62. The stock has a market cap of $2.37 billion, a PE ratio of 24.07 and a beta of 0.86. PHINIA Inc. has a 12-month low of $26.08 and a 12-month high of $57.23. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46.

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

PHINIA Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be paid 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 yield of 1.78%. PHINIA's dividend payout ratio 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.