PHINIA (NYSE:PHIN) Reaches New 52-Week High After Dividend Announcement

PHINIA Inc. (NYSE:PHIN)’s share price reached a new 52-week high during trading on Friday following a dividend announcement from the company. The stock traded as high as $72.04 and last traded at $70.7350, with a volume of 14334 shares traded. The stock had previously closed at $70.44.

The newly announced dividend which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a $0.30 dividend. This represents a $1.20 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, March 6th. This is a boost from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s payout ratio is currently 48.65%.

Analyst Ratings Changes

Several brokerages recently commented on PHIN. Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, December 31st. UBS Group lifted their price objective on PHINIA from $59.00 to $71.00 and gave the company a “neutral” rating in a report on Wednesday, January 14th. BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price on the stock in a research note on Monday, November 3rd. Weiss Ratings reaffirmed a “hold (c)” rating on shares of PHINIA in a report on Monday, December 29th. Finally, Citigroup reiterated a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $63.17.

PHINIA Stock Up 1.1%

The firm has a fifty day moving average price of $62.44 and a 200 day moving average price of $57.23. The company has a quick ratio of 1.25, a current ratio of 1.72 and a debt-to-equity ratio of 0.61. The company has a market cap of $2.74 billion, a P/E ratio of 32.09 and a beta of 1.37.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.42. PHINIA had a return on equity of 11.64% and a net margin of 2.63%.The business had revenue of $908.00 million during the quarter, compared to analysts’ expectations of $861.57 million. During the same period in the previous year, the business posted $1.17 earnings per share. The firm’s revenue for the quarter was up 8.2% compared to the same quarter last year. Equities research analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

Insider Buying and Selling

In related news, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total value of $46,819.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $54.14, for a total value of $105,031.60. Following the transaction, the vice president directly owned 8,869 shares in the company, valued at approximately $480,167.66. This represents a 17.95% decrease in their position. The SEC filing for this sale provides additional information. 2.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On PHINIA

Several large investors have recently bought and sold shares of PHIN. EMC Capital Management acquired a new stake in PHINIA during the 2nd quarter worth $39,000. TD Waterhouse Canada Inc. lifted its stake in shares of PHINIA by 350.0% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 900 shares of the company’s stock valued at $42,000 after purchasing an additional 700 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of PHINIA by 34.4% in the 3rd quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock worth $50,000 after purchasing an additional 222 shares during the last quarter. MAI Capital Management boosted its position in shares of PHINIA by 845.4% in the 3rd quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the last quarter. Finally, State of Wyoming acquired a new stake in shares of PHINIA during the second quarter worth $60,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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. 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.