Royce & Associates LP Takes $695,000 Position in PHINIA Inc. (NYSE:PHIN)

Royce & Associates LP acquired a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 15,109 shares of the company's stock, valued at approximately $695,000.

A number of other hedge funds have also modified their holdings of PHIN. GAMMA Investing LLC grew its holdings in PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company's stock valued at $45,000 after buying an additional 567 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA in the 2nd quarter valued at $49,000. EntryPoint Capital LLC bought a new position in shares of PHINIA during the 1st quarter worth about $60,000. Rothschild Investment LLC acquired a new stake in shares of PHINIA during the 2nd quarter valued at about $66,000. Finally, KBC Group NV increased its stake in 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 acquiring an additional 494 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

Insider Activity at PHINIA

In other PHINIA news, VP Michael Coetzee sold 900 shares of the business's stock in a transaction dated 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 of the company's stock, valued at approximately $1,409,353.40. The trade was a 2.96 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.50% of the company's stock.

PHINIA Trading Up 1.2 %

PHIN stock opened at $52.73 on Thursday. The business has a fifty day moving average price of $47.50 and a 200 day moving average price of $45.00. 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 Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $53.72. The stock has a market capitalization of $2.22 billion, a price-to-earnings ratio of 22.63 and a beta of 0.86.

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

PHINIA Announces Dividend

The business also recently disclosed 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 dividend yield of 1.90%. PHINIA's dividend payout ratio (DPR) is presently 42.92%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Morgan Stanley lowered 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. UBS Group started coverage on shares of PHINIA in a report on Wednesday, September 4th. They set a "buy" rating and a $55.00 price target for the company.

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.