SG Capital Management LLC Takes $3.90 Million Position in PHINIA Inc. $PHIN

SG Capital Management LLC bought a new position in PHINIA Inc. (NYSE:PHIN) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 67,817 shares of the company’s stock, valued at approximately $3,898,000.

Other large investors have also added to or reduced their stakes in the company. Voss Capital LP lifted its holdings in shares of PHINIA by 10.8% during the 2nd quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock valued at $101,882,000 after buying an additional 222,658 shares during the period. Teacher Retirement System of Texas increased its position in PHINIA by 92.2% during the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock valued at $23,931,000 after acquiring an additional 199,756 shares during the last quarter. LSV Asset Management increased its position in PHINIA by 19.4% during the second quarter. LSV Asset Management now owns 1,199,218 shares of the company’s stock valued at $53,353,000 after acquiring an additional 194,627 shares during the last quarter. Heartland Advisors Inc. lifted its holdings in PHINIA by 157.0% in the third quarter. Heartland Advisors Inc. now owns 257,018 shares of the company’s stock valued at $14,773,000 after acquiring an additional 157,018 shares during the period. Finally, Bank of America Corp DE boosted its position in PHINIA by 110.7% in the second quarter. Bank of America Corp DE now owns 259,308 shares of the company’s stock worth $11,537,000 after purchasing an additional 136,214 shares during the last quarter. Institutional investors own 90.94% of the company’s stock.

PHINIA Trading Up 0.7%

PHINIA stock opened at $76.03 on Thursday. PHINIA Inc. has a 12-month low of $36.25 and a 12-month high of $78.90. The firm has a market capitalization of $2.88 billion, a price-to-earnings ratio of 23.39 and a beta of 1.37. The firm has a 50 day moving average of $67.46 and a 200 day moving average of $59.47. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, February 12th. The company reported $1.18 earnings per share for the quarter, missing analysts’ consensus estimates of $1.35 by ($0.17). PHINIA had a return on equity of 12.56% and a net margin of 3.73%.The firm had revenue of $889.00 million during the quarter, compared to the consensus estimate of $843.59 million. During the same quarter in the previous year, the company earned $0.71 earnings per share. The business’s revenue for the quarter was up 6.7% compared to the same quarter last year. As a group, research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be paid a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.6%. This is a positive change from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date of this dividend is Friday, March 6th. PHINIA’s dividend payout ratio is currently 33.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on PHIN shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a research report on Monday, December 29th. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, December 31st. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price for the company in a report on Monday, November 3rd. Wall Street Zen downgraded shares of PHINIA from a “strong-buy” rating to a “buy” rating in a research report on Saturday, February 14th. Finally, Northland Securities set a $93.00 price target on shares of PHINIA in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $66.33.

About PHINIA

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.