Quarry LP Invests $37,000 in PHINIA Inc. (NYSE:PHIN)

Quarry LP purchased a new position in shares of PHINIA Inc. (NYSE:PHIN) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 1,222 shares of the company’s stock, valued at approximately $37,000.

A number of other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. acquired a new stake in shares of PHINIA during the third quarter worth about $142,304,000. Pacer Advisors Inc. raised its position in PHINIA by 58.2% in the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock valued at $71,187,000 after buying an additional 865,016 shares during the last quarter. Cooper Creek Partners Management LLC acquired a new stake in PHINIA in the 3rd quarter valued at approximately $56,398,000. Harris Associates L P acquired a new stake in PHINIA in the 3rd quarter valued at approximately $53,654,000. Finally, LSV Asset Management raised its position in PHINIA by 5.8% in the 4th quarter. LSV Asset Management now owns 768,510 shares of the company’s stock valued at $23,278,000 after buying an additional 42,080 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Stock Down 0.6 %

PHIN stock opened at $40.62 on Tuesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.27 and a current ratio of 1.71. The business has a 50 day moving average price of $41.72 and a two-hundred day moving average price of $35.45. PHINIA Inc. has a twelve month low of $23.46 and a twelve month high of $46.08.

PHINIA (NYSE:PHIN) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The firm had revenue of $863.00 million during the quarter, compared to the consensus estimate of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. On average, sell-side analysts predict that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 14th. Shareholders of record on Friday, May 24th were paid a $0.25 dividend. The ex-dividend date was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.46%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley assumed coverage on PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price on the stock.

Insider Buying and Selling at PHINIA

In related news, VP Robert Boyle sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $43.77, for a total transaction of $80,011.56. Following the transaction, the vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $1,590,470.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.50% of the company’s stock.

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.