PHINIA Inc. (NYSE:PHIN) Shares Acquired by Long Road Investment Counsel LLC

Long Road Investment Counsel LLC grew its stake in PHINIA Inc. (NYSE:PHIN) by 10.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,906 shares of the company’s stock after purchasing an additional 1,200 shares during the quarter. Long Road Investment Counsel LLC’s holdings in PHINIA were worth $508,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of PHIN. Norges Bank purchased a new position in shares of PHINIA in the fourth quarter worth about $16,896,000. Jacobs Levy Equity Management Inc. raised its stake in PHINIA by 3,027.2% during the first quarter. Jacobs Levy Equity Management Inc. now owns 438,180 shares of the company’s stock worth $16,839,000 after purchasing an additional 424,168 shares during the period. Great Lakes Advisors LLC raised its stake in PHINIA by 1,537.3% during the second quarter. Great Lakes Advisors LLC now owns 338,616 shares of the company’s stock worth $13,328,000 after purchasing an additional 317,935 shares during the period. Vision One Management Partners LP purchased a new position in PHINIA during the fourth quarter worth about $8,379,000. Finally, American Century Companies Inc. raised its stake in PHINIA by 33.2% during the second quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock worth $39,718,000 after purchasing an additional 251,650 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Price Performance

Shares of PHIN stock opened at $50.03 on Friday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.85 and a quick ratio of 1.38. The firm’s 50-day moving average is $45.53 and its two-hundred day moving average is $42.11. PHINIA Inc. has a 12 month low of $23.46 and a 12 month high of $52.19. The company has a market capitalization of $2.19 billion, a PE ratio of 14.31 and a beta of 0.86.

PHINIA (NYSE:PHIN) last released 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 company had revenue of $868.00 million during the quarter, compared to analysts’ expectations of $889.00 million. PHINIA had a net margin of 2.48% and a return on equity of 8.04%. PHINIA’s revenue was down 2.1% on a year-over-year basis. During the same period last year, the firm posted $1.61 earnings per share. Analysts predict that PHINIA Inc. will post 3.37 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 23rd were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Friday, August 23rd.

Analysts Set New Price Targets

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

Insider Activity

In other news, VP Michael Coetzee sold 900 shares of the business’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 value of $42,939.00. Following the sale, the vice president now directly owns 29,540 shares of the company’s stock, valued at approximately $1,409,353.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.