Systematic Financial Management LP Buys New Shares in PHINIA Inc. (NYSE:PHIN)

Systematic Financial Management LP bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 13,017 shares of the company's stock, valued at approximately $599,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Quantinno Capital Management LP lifted its holdings in shares of PHINIA by 2.4% during the 3rd quarter. Quantinno Capital Management LP now owns 14,637 shares of the company's stock valued at $674,000 after purchasing an additional 345 shares in the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in PHINIA by 10.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company's stock valued at $46,794,000 after buying an additional 95,870 shares in the last quarter. HITE Hedge Asset Management LLC boosted its holdings in shares of PHINIA by 140.6% in the third quarter. HITE Hedge Asset Management LLC now owns 69,257 shares of the company's stock valued at $3,188,000 after buying an additional 40,468 shares during the period. Atom Investors LP increased its position in shares of PHINIA by 71.6% during the third quarter. Atom Investors LP now owns 142,612 shares of the company's stock worth $6,564,000 after acquiring an additional 59,515 shares in the last quarter. Finally, Paloma Partners Management Co acquired a new stake in shares of PHINIA during the third quarter worth $258,000. 90.94% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Morgan Stanley lowered 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 began coverage on PHINIA in a report on Wednesday, September 4th. They issued a "buy" rating and a $55.00 price target on the stock.

PHINIA Stock Up 0.4 %

Shares of PHIN traded up $0.23 during mid-day trading on Friday, hitting $53.41. 376,903 shares of the company's stock were exchanged, compared to its average volume of 402,374. 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 52 week low of $26.08 and a 52 week high of $57.23. The company has a market cap of $2.25 billion, a PE ratio of 22.93 and a beta of 1.10. The company has a 50-day simple moving average of $49.24 and a 200 day simple moving average of $45.94.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping 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 company posted $0.53 earnings per share. The firm's revenue was down 6.4% on a year-over-year basis. On average, research analysts forecast that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Monday, November 25th. PHINIA's payout ratio is 42.92%.

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.