Systematic Financial Management LP Takes $599,000 Position in PHINIA Inc. (NYSE:PHIN)

Systematic Financial Management LP bought a new position in shares of PHINIA Inc. (NYSE:PHIN) during the third quarter, HoldingsChannel reports. The firm bought 13,017 shares of the company’s stock, valued at approximately $599,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PHIN. GAMMA Investing LLC grew its holdings in shares of PHINIA by 100.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after purchasing an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new position in PHINIA in the second quarter worth $49,000. Rothschild Investment LLC bought a new position in PHINIA in the second quarter worth $66,000. KBC Group NV boosted its stake in PHINIA by 49.4% during the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after buying an additional 494 shares in the last quarter. Finally, Meeder Asset Management Inc. bought a new stake in PHINIA in the 2nd quarter valued at $76,000. 90.94% of the stock is currently owned by institutional investors.

PHINIA Stock Up 0.5 %

Shares of NYSE:PHIN opened at $53.43 on Friday. The company’s fifty day moving average is $49.24 and its 200-day moving average is $45.94. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. PHINIA Inc. has a 52 week low of $26.08 and a 52 week high of $57.23. The company has a market capitalization of $2.25 billion, a PE ratio of 22.93 and a beta of 1.10.

PHINIA (NYSE:PHIN) last posted its quarterly earnings data on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.38. PHINIA had a return on equity of 9.79% and a net margin of 3.10%. The company had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. During the same quarter in the previous year, the firm earned $0.53 earnings per share. The business’s revenue was down 6.4% on a year-over-year basis. Equities research analysts predict that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on PHIN shares. UBS Group initiated coverage on shares of PHINIA in a research report on Wednesday, September 4th. They issued a “buy” rating and a $55.00 price target for the company. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective on the stock. in a research note on Wednesday, September 25th.

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.