PHINIA Inc. (NYSE:PHIN) Stake Raised by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in PHINIA Inc. (NYSE:PHIN) by 43.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 245,198 shares of the company’s stock after acquiring an additional 73,732 shares during the quarter. Wellington Management Group LLP owned about 0.53% of PHINIA worth $7,427,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quarry LP purchased a new position in PHINIA in the 4th quarter worth about $37,000. III Capital Management lifted its holdings in shares of PHINIA by 8.8% during the 4th quarter. III Capital Management now owns 124,238 shares of the company’s stock valued at $3,763,000 after buying an additional 10,000 shares during the last quarter. Kent Lake Capital LLC acquired a new stake in shares of PHINIA during the 4th quarter valued at about $6,058,000. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of PHINIA by 4.4% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 435,170 shares of the company’s stock valued at $13,181,000 after buying an additional 18,500 shares during the last quarter. Finally, Vision One Management Partners LP acquired a new stake in PHINIA in the 4th quarter worth approximately $8,379,000. 90.94% of the stock is currently owned by institutional investors.

PHINIA Trading Up 1.4 %

Shares of PHIN stock opened at $39.33 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.27 and a current ratio of 1.71. PHINIA Inc. has a 52 week low of $23.46 and a 52 week high of $46.08. The stock’s fifty day moving average is $42.17 and its 200-day moving average is $36.16.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.34. The company 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 revenue for the quarter was up 3.4% compared to the same quarter last year. As a group, sell-side analysts forecast that PHINIA Inc. will post 4.05 EPS for the current year.

PHINIA Announces Dividend

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 of this dividend was Thursday, May 23rd. This represents a $1.00 dividend on an annualized basis and a yield of 2.54%.

Analyst Upgrades and Downgrades

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

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Robert Boyle sold 1,828 shares of the firm’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 value of $80,011.56. Following the completion of the transaction, the vice president now directly owns 36,337 shares in the company, valued at $1,590,470.49. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.50% of the company’s stock.

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.