Hillsdale Investment Management Inc. Acquires Shares of 137,800 PHINIA Inc. $PHIN

Hillsdale Investment Management Inc. acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 137,800 shares of the company’s stock, valued at approximately $8,639,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of PHINIA by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 4,510,133 shares of the company’s stock worth $282,740,000 after purchasing an additional 44,599 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of PHINIA by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,256,782 shares of the company’s stock worth $129,719,000 after purchasing an additional 10,750 shares during the last quarter. American Century Companies Inc. raised its position in shares of PHINIA by 4.7% in the 3rd quarter. American Century Companies Inc. now owns 1,641,916 shares of the company’s stock worth $94,377,000 after purchasing an additional 74,430 shares during the last quarter. LSV Asset Management raised its position in shares of PHINIA by 13.8% in the 3rd quarter. LSV Asset Management now owns 1,364,534 shares of the company’s stock worth $78,433,000 after purchasing an additional 165,316 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after purchasing an additional 58,875 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Insider Activity

In other news, VP Christopher Gustanski sold 3,812 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total transaction of $277,246.76. Following the completion of the sale, the vice president owned 14,871 shares of the company’s stock, valued at $1,081,567.83. This represents a 20.40% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Neil Fryer sold 624 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $72.75, for a total transaction of $45,396.00. Following the sale, the vice president directly owned 18,180 shares of the company’s stock, valued at $1,322,595. The trade was a 3.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 2.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

PHIN has been the subject of several recent analyst reports. Northland Securities set a $93.00 price target on PHINIA in a research report on Friday, February 13th. UBS Group reaffirmed a “neutral” rating and issued a $76.00 price target on shares of PHINIA in a research report on Friday, February 13th. Weiss Ratings lowered PHINIA from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, May 20th. Freedom Capital lowered PHINIA from a “strong-buy” rating to a “hold” rating in a research report on Thursday, February 26th. Finally, Zacks Research raised PHINIA from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $68.80.

PHINIA Price Performance

Shares of NYSE:PHIN opened at $77.45 on Friday. PHINIA Inc. has a fifty-two week low of $41.28 and a fifty-two week high of $81.11. The business has a 50-day simple moving average of $72.64 and a two-hundred day simple moving average of $67.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.32 and a current ratio of 1.82. The firm has a market cap of $2.87 billion, a price-to-earnings ratio of 21.63 and a beta of 1.16.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The business had revenue of $878.00 million during the quarter, compared to analyst estimates of $838.67 million. During the same quarter in the previous year, the firm earned $0.94 EPS. PHINIA’s revenue was up 10.3% on a year-over-year basis. On average, analysts expect that PHINIA Inc. will post 6.36 earnings per share for the current year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 23rd. Stockholders of record on Tuesday, June 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 annualized dividend and a dividend yield of 1.5%. PHINIA’s dividend payout ratio is presently 33.52%.

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.