Royce & Associates LP Boosts Stock Position in PHINIA Inc. (NYSE:PHIN)

Royce & Associates LP lifted its stake in PHINIA Inc. (NYSE:PHIN - Free Report) by 66.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 25,140 shares of the company's stock after buying an additional 10,031 shares during the quarter. Royce & Associates LP owned about 0.06% of PHINIA worth $1,211,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of the company. Smartleaf Asset Management LLC boosted its holdings in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the period. KBC Group NV boosted its stake in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company's stock worth $69,000 after buying an additional 494 shares during the period. AlphaQuest LLC bought a new position in PHINIA during the fourth quarter valued at $173,000. State of Michigan Retirement System purchased a new stake in shares of PHINIA in the fourth quarter valued at $203,000. Finally, Paloma Partners Management Co bought a new stake in shares of PHINIA in the 3rd quarter worth about $258,000. Institutional investors own 90.94% of the company's stock.

PHINIA Trading Up 0.3 %

Shares of NYSE:PHIN traded up $0.15 during trading on Tuesday, reaching $45.34. 436,035 shares of the company were exchanged, compared to its average volume of 579,341. The business's fifty day simple moving average is $48.44 and its 200-day simple moving average is $48.73. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. PHINIA Inc. has a 12-month low of $36.10 and a 12-month high of $57.23. The firm has a market capitalization of $1.85 billion, a PE ratio of 25.91 and a beta of 1.38.

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PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, February 13th. The company reported $0.71 EPS for the quarter, missing the consensus estimate of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million for the quarter, compared to analysts' expectations of $811.94 million. On average, research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. 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. This represents a $1.08 dividend on an annualized basis and a yield of 2.38%. PHINIA's dividend payout ratio is 61.71%.

Wall Street Analyst Weigh In

PHIN has been the topic of several analyst reports. Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. CL King started coverage on PHINIA in a report on Monday. They issued a "buy" rating and a $54.00 price target on the stock. UBS Group boosted their price objective on PHINIA from $55.00 to $57.00 and gave the company a "buy" rating in a report on Thursday, January 16th. Finally, Northland Securities assumed coverage on PHINIA in a research report on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price objective on the stock. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus price target of $55.50.

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.