Foundry Partners LLC Takes $7.91 Million Position in PHINIA Inc. (NYSE:PHIN)

Foundry Partners LLC acquired a new stake in PHINIA Inc. (NYSE:PHIN) in the third quarter, Holdings Channel reports. The firm acquired 171,864 shares of the company’s stock, valued at approximately $7,911,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. GAMMA Investing LLC lifted its stake in shares of PHINIA by 100.4% in the second quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock worth $45,000 after acquiring an additional 567 shares during the period. Point72 Asia Singapore Pte. Ltd. bought a new position in shares of PHINIA in the 2nd quarter worth about $49,000. KBC Group NV lifted its stake in shares of PHINIA by 49.4% in the 3rd quarter. KBC Group NV now owns 1,495 shares of the company’s stock valued at $69,000 after purchasing an additional 494 shares during the period. EntryPoint Capital LLC bought a new stake in shares of PHINIA during the 1st quarter valued at about $60,000. Finally, Rothschild Investment LLC acquired a new stake in PHINIA during the second quarter worth approximately $66,000. 90.94% of the stock is owned by institutional investors and hedge funds.

PHINIA Trading Up 1.2 %

PHIN opened at $52.73 on Thursday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.93 and a quick ratio of 1.46. The company’s 50-day moving average is $47.50 and its 200 day moving average is $45.00. The firm has a market capitalization of $2.22 billion, a PE ratio of 22.63 and a beta of 0.86. PHINIA Inc. has a fifty-two week low of $25.19 and a fifty-two week high of $53.72.

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

PHINIA Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, November 25th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.90%. The ex-dividend date of this dividend is Monday, November 25th. PHINIA’s dividend payout ratio is presently 42.92%.

Insider Transactions at PHINIA

In other news, VP Michael Coetzee sold 900 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total transaction of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares in the company, valued at $1,409,353.40. This trade represents a 2.96 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.50% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group initiated coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price target on the stock. Morgan Stanley lowered PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a report on Wednesday, September 25th.

About PHINIA

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.