142,712 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Brandywine Global Investment Management LLC

Brandywine Global Investment Management LLC purchased a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 142,712 shares of the company’s stock, valued at approximately $6,874,000. Brandywine Global Investment Management LLC owned approximately 0.34% of PHINIA at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PHIN. Smartleaf Asset Management LLC increased its position in shares of PHINIA by 149.3% in the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after acquiring an additional 418 shares during the period. KBC Group NV increased its holdings in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares during the period. AlphaQuest LLC purchased a new position in shares of PHINIA in the fourth quarter worth about $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA during the fourth quarter worth about $203,000. Finally, Paloma Partners Management Co purchased a new stake in PHINIA in the third quarter valued at approximately $258,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on PHIN shares. UBS Group raised their price target on shares of PHINIA from $55.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, January 16th. Northland Securities assumed coverage on shares of PHINIA in a research report on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price for the company. CL King started coverage on PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price target on the stock. Finally, Northland Capmk raised PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $55.50.

PHINIA Stock Performance

PHIN opened at $42.56 on Tuesday. The firm has a fifty day moving average price of $47.74 and a 200 day moving average price of $48.68. PHINIA Inc. has a 1 year low of $36.10 and a 1 year high of $57.23. The stock has a market cap of $1.74 billion, a P/E ratio of 24.32 and a beta of 1.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The firm had revenue of $833.00 million during the quarter, compared to analyst estimates of $811.94 million. Equities research analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.54%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA’s dividend payout ratio is presently 61.71%.

PHINIA 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.