16,342 Shares in PHINIA Inc. (NYSE:PHIN) Bought by GSA Capital Partners LLP

Key Points

• GSA Capital Partners LLP acquired 16,342 shares of PHINIA Inc., valued at approximately $693,000, signaling growing interest from institutional investors, who now own nearly 91% of the company's stock.
• PHINIA recently reported quarterly earnings of $1.27 per share, exceeding analysts' expectations, with revenue of $890 million, up 2.5% year-over-year.
• The company declared a quarterly dividend of $0.27 per share, reflecting a dividend yield of 2.2% and a payout ratio of 41.70%.

GSA Capital Partners LLP purchased a new position in PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 16,342 shares of the company's stock, valued at approximately $693,000.

A number of other large investors have also bought and sold shares of PHIN. Millennium Management LLC boosted its position in PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock worth $116,810,000 after purchasing an additional 535,222 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after acquiring an additional 253,345 shares during the period. First Trust Advisors LP boosted its holdings in PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after acquiring an additional 458,650 shares during the period. Voss Capital LP lifted its holdings in shares of PHINIA by 31.8% in the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock worth $68,261,000 after buying an additional 342,081 shares during the period. Finally, LSV Asset Management lifted its holdings in shares of PHINIA by 6.0% in the 4th quarter. LSV Asset Management now owns 832,236 shares of the company's stock worth $40,089,000 after buying an additional 46,919 shares during the period. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Price Performance

PHIN traded down $0.10 during trading on Wednesday, reaching $50.68. The stock had a trading volume of 150,253 shares, compared to its average volume of 518,200. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $57.23. The stock has a 50 day moving average of $46.27 and a two-hundred day moving average of $45.40. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 19.58, a price-to-earnings-growth ratio of 0.46 and a beta of 1.51. The company has a quick ratio of 1.36, a current ratio of 1.86 and a debt-to-equity ratio of 0.59.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.99 by $0.28. The business had revenue of $890.00 million during the quarter, compared to analyst estimates of $836.51 million. PHINIA had a return on equity of 10.74% and a net margin of 3.22%. PHINIA's quarterly revenue was up 2.5% compared to the same quarter last year. During the same period last year, the company earned $0.88 earnings per share. As a group, equities analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 12th. Shareholders of record on Friday, August 22nd will be paid a $0.27 dividend. The ex-dividend date of this dividend is Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.1%. PHINIA's dividend payout ratio (DPR) is presently 41.70%.

Insider Transactions at PHINIA

In other news, Director Meggan M. Walsh purchased 1,400 shares of PHINIA stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $42.71 per share, with a total value of $59,794.00. Following the completion of the transaction, the director directly owned 7,492 shares in the company, valued at $319,983.32. This trade represents a 22.98% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Morgan Stanley decreased their price objective on PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a research note on Monday, May 19th. UBS Group restated a "neutral" rating and issued a $55.00 target price (up previously from $52.00) on shares of PHINIA in a research report on Friday, July 25th. Wall Street Zen raised PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target on the stock. in a report on Wednesday, April 23rd. Finally, Bank of America upped their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. Three equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $52.83.

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.