Dimensional Fund Advisors LP Acquires 253,345 Shares of PHINIA Inc. (NYSE:PHIN)

by · The Cerbat Gem

Dimensional Fund Advisors LP increased its holdings in PHINIA Inc. (NYSE:PHIN – Free Report) by 14.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,048,051 shares of the company’s stock after buying an additional 253,345 shares during the period. Dimensional Fund Advisors LP owned 4.87% of PHINIA worth $98,653,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in PHIN. Brandywine Global Investment Management LLC acquired a new stake in shares of PHINIA during the 4th quarter worth $6,874,000. Jane Street Group LLC grew its stake in PHINIA by 297.0% during the third quarter. Jane Street Group LLC now owns 24,516 shares of the company’s stock worth $1,128,000 after buying an additional 18,341 shares in the last quarter. Barclays PLC increased its holdings in PHINIA by 336.2% in the 3rd quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after buying an additional 56,114 shares during the period. Tidal Investments LLC acquired a new position in shares of PHINIA in the 3rd quarter valued at approximately $527,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of PHINIA by 50.8% during the 4th quarter. Ritholtz Wealth Management now owns 28,046 shares of the company’s stock worth $1,351,000 after acquiring an additional 9,442 shares during the period. Institutional investors and hedge funds own 90.94% of the company’s stock.

PHINIA Trading Down 7.2 %

PHIN opened at $40.85 on Monday. The company’s 50 day moving average price is $43.50 and its two-hundred day moving average price is $47.73. The firm has a market capitalization of $1.63 billion, a price-to-earnings ratio of 23.34 and a beta of 1.56. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44.

PHINIA (NYSE:PHIN – Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. As a group, research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a $0.27 dividend. This is a positive change from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. The ex-dividend date of this dividend was Friday, February 28th. PHINIA’s payout ratio is currently 61.71%.

Analysts Set New Price Targets

Several research analysts have commented on PHIN shares. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a research report on Thursday, January 30th. CL King began coverage on PHINIA in a research report on Monday, March 24th. They set a “buy” rating and a $54.00 price objective for the company. UBS Group reiterated a “neutral” rating and issued a $45.00 target price (down previously from $56.00) on shares of PHINIA in a research report on Thursday, April 10th. BNP Paribas cut shares of PHINIA from an “outperform” rating to a “neutral” rating and set a $46.00 target price for the company. in a report on Wednesday, April 23rd. Finally, Bank of America started coverage on shares of PHINIA in a report on Thursday, April 10th. They set a “buy” rating and a $53.00 price target on the stock. Three investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PHINIA currently has a consensus rating of “Moderate Buy” and an average price target of $51.50.

View Our Latest Stock Report on PHINIA

PHINIA Profile

(Free Report)

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.

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