Dimensional Fund Advisors LP Has $98.65 Million Holdings in PHINIA Inc. (NYSE:PHIN)

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

Several other institutional investors have also made changes to their positions in PHIN. Smartleaf Asset Management LLC lifted its stake in PHINIA by 149.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the period. KBC Group NV boosted its position in PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company's stock valued at $105,000 after buying an additional 685 shares in the last quarter. AlphaQuest LLC bought a new stake in PHINIA during the fourth quarter worth about $173,000. State of Michigan Retirement System acquired a new stake in shares of PHINIA during the fourth quarter worth approximately $203,000. Finally, Optimize Financial Inc bought a new position in shares of PHINIA in the fourth quarter valued at approximately $206,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a research report on Thursday, January 30th. BNP Paribas lowered shares of PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price objective on the stock. in a report on Wednesday, April 23rd. Bank of America assumed coverage on shares of PHINIA in a research report on Thursday, April 10th. They set a "buy" rating and a $53.00 target price on the stock. UBS Group reissued a "neutral" rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, CL King assumed coverage on PHINIA in a research note on Monday, March 24th. They set a "buy" rating and a $54.00 price target on the stock. Three analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $51.50.

Insider Activity

In related news, CEO Brady D. Ericson purchased 10,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The stock was purchased at an average cost of $39.73 per share, for a total transaction of $397,300.00. Following the completion of the purchase, the chief executive officer now directly owns 436,486 shares in the company, valued at $17,341,588.78. This trade represents a 2.34 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.00% of the stock is owned by corporate insiders.

PHINIA Stock Up 4.6 %

Shares of PHIN traded up $1.84 during midday trading on Friday, hitting $42.27. The stock had a trading volume of 252,782 shares, compared to its average volume of 603,283. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The firm has a market cap of $1.68 billion, a price-to-earnings ratio of 24.16 and a beta of 1.56. The company has a 50 day simple moving average of $42.60 and a two-hundred day simple moving average of $47.56. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter last year, the business earned $1.08 earnings per share. PHINIA's revenue for the quarter was down 7.8% on a year-over-year basis. On average, analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from PHINIA's previous quarterly dividend of $0.25. The ex-dividend date was Friday, February 28th. PHINIA's dividend payout ratio is currently 61.36%.

PHINIA Company 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.