PHINIA (NYSE:PHIN) Hits New 12-Month High Following Dividend Announcement

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

The newly announced dividend which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.30 dividend. This represents a $1.20 annualized dividend and a yield of 1.7%. This is a boost 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 48.65%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. UBS Group upped their target price on PHINIA from $59.00 to $71.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a research note on Tuesday, October 14th. BNP Paribas Exane raised shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 price objective for the company in a research report on Monday, November 3rd. Finally, Northland Securities raised their price objective on PHINIA from $65.00 to $79.00 and gave the company an “outperform” rating in a research note on Tuesday, December 30th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $63.17.

PHINIA Price Performance

The stock’s 50 day simple moving average is $62.08 and its 200-day simple moving average is $57.08. The stock has a market capitalization of $2.72 billion, a price-to-earnings ratio of 31.93 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.42. PHINIA had a net margin of 2.63% and a return on equity of 11.64%. The business had revenue of $908.00 million during the quarter, compared to the consensus estimate of $861.57 million. During the same period in the prior year, the firm earned $1.17 EPS. PHINIA’s quarterly revenue was up 8.2% compared to the same quarter last year. On average, analysts expect that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

Insider Buying and Selling

In related news, VP Hongyong Yang sold 893 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total value of $46,819.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president directly owned 8,869 shares of the company’s stock, valued at approximately $480,167.66. The trade was a 17.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 2.00% of the company’s stock.

Institutional Trading of PHINIA

Hedge funds have recently modified their holdings of the company. UBS Group AG increased its position in PHINIA by 222.9% in the 3rd quarter. UBS Group AG now owns 466,053 shares of the company’s stock valued at $26,789,000 after acquiring an additional 321,708 shares in the last quarter. Voss Capital LP increased its holdings in shares of PHINIA by 10.8% in the second quarter. Voss Capital LP now owns 2,290,000 shares of the company’s stock valued at $101,882,000 after purchasing an additional 222,658 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of PHINIA by 92.2% in the third quarter. Teacher Retirement System of Texas now owns 416,328 shares of the company’s stock valued at $23,931,000 after purchasing an additional 199,756 shares in the last quarter. LSV Asset Management raised its position in PHINIA by 19.4% in the 2nd quarter. LSV Asset Management now owns 1,199,218 shares of the company’s stock worth $53,353,000 after purchasing an additional 194,627 shares during the last quarter. Finally, Heartland Advisors Inc. lifted its holdings in PHINIA by 157.0% during the 3rd quarter. Heartland Advisors Inc. now owns 257,018 shares of the company’s stock worth $14,773,000 after buying an additional 157,018 shares in the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

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.