American Century Companies Inc. Raises Position in PHINIA Inc. (NYSE:PHIN)

American Century Companies Inc. boosted its stake in PHINIA Inc. (NYSE:PHIN) by 33.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,009,106 shares of the company’s stock after buying an additional 251,650 shares during the quarter. American Century Companies Inc. owned approximately 2.21% of PHINIA worth $39,718,000 at the end of the most recent reporting period.

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 approximately $37,000. Fidelis Capital Partners LLC purchased a new position in PHINIA in the 1st quarter worth approximately $37,000. Cape Investment Advisory Inc. purchased a new position in PHINIA in the 4th quarter worth approximately $39,000. GAMMA Investing LLC lifted its stake in PHINIA by 100.4% in 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. Finally, TFO Wealth Partners LLC purchased a new position in PHINIA in the 4th quarter worth approximately $48,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Up 5.0 %

Shares of NYSE PHIN opened at $48.07 on Wednesday. The company has a 50 day simple moving average of $44.93 and a 200-day simple moving average of $41.77. The company has a market capitalization of $2.20 billion, a P/E ratio of 9.71 and a beta of 0.86. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. PHINIA Inc. has a 1 year low of $23.46 and a 1 year high of $49.31.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.27). The firm had revenue of $868.00 million for the quarter, compared to analyst estimates of $889.00 million. PHINIA had a return on equity of 8.04% and a net margin of 2.48%. The firm’s quarterly revenue was down 2.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.61 EPS. On average, equities research analysts predict that PHINIA Inc. will post 3.37 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 23rd were issued a $0.25 dividend. The ex-dividend date of this dividend was Friday, August 23rd. This represents a $1.00 annualized dividend and a yield of 2.08%. PHINIA’s dividend payout ratio (DPR) is presently 20.20%.

Insider Activity at PHINIA

In related news, VP Michael Coetzee sold 900 shares of PHINIA stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $47.71, for a total value of $42,939.00. Following the completion of the sale, the vice president now owns 29,540 shares in the company, valued at approximately $1,409,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.50% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Separately, UBS Group started coverage on shares of PHINIA in a research note on Wednesday, September 4th. They issued a “buy” rating and a $55.00 target price on the 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.