Hillsdale Investment Management Inc. Makes New $8.64 Million Investment in PHINIA Inc. $PHIN

Key Points

• Hillsdale Investment Management disclosed a new stake in PHINIA, buying 137,800 shares worth about $8.64 million in the fourth quarter, giving it roughly 0.36% ownership.
• PHINIA reported better-than-expected quarterly results, with EPS of $1.29 versus $1.13 expected and revenue of $878 million, up 10.3% from a year earlier.
• The company announced a quarterly dividend of $0.30 per share payable June 23, which works out to an annualized yield of about 1.5%.

Hillsdale Investment Management Inc. bought a new position in PHINIA Inc. (NYSE:PHIN - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 137,800 shares of the company's stock, valued at approximately $8,639,000. Hillsdale Investment Management Inc. owned about 0.36% of PHINIA as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Intech Investment Management LLC grew its holdings in shares of PHINIA by 634.1% in the fourth quarter. Intech Investment Management LLC now owns 119,432 shares of the company's stock worth $7,487,000 after purchasing an additional 103,162 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of PHINIA by 76.7% in the fourth quarter. Hantz Financial Services Inc. now owns 979 shares of the company's stock worth $61,000 after purchasing an additional 425 shares during the last quarter. Global Retirement Partners LLC grew its holdings in shares of PHINIA by 2,529.2% in the fourth quarter. Global Retirement Partners LLC now owns 1,262 shares of the company's stock worth $79,000 after purchasing an additional 1,214 shares during the last quarter. Larson Financial Group LLC grew its holdings in shares of PHINIA by 151.5% in the fourth quarter. Larson Financial Group LLC now owns 425 shares of the company's stock worth $27,000 after purchasing an additional 256 shares during the last quarter. Finally, Handelsbanken Fonder AB grew its holdings in shares of PHINIA by 36.7% in the fourth quarter. Handelsbanken Fonder AB now owns 14,900 shares of the company's stock worth $934,000 after purchasing an additional 4,000 shares during the last quarter. Institutional investors own 90.94% of the company's stock.

PHINIA Stock Performance

NYSE:PHIN opened at $77.45 on Friday. The stock has a market cap of $2.87 billion, a P/E ratio of 21.63 and a beta of 1.16. The firm's fifty day simple moving average is $72.64 and its 200 day simple moving average is $67.50. PHINIA Inc. has a twelve month low of $41.28 and a twelve month high of $81.11. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The company reported $1.29 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.16. The business had revenue of $878.00 million for the quarter, compared to analysts' expectations of $838.67 million. PHINIA had a net margin of 3.96% and a return on equity of 13.23%. The firm's revenue for the quarter was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.94 earnings per share. As a group, research analysts predict that PHINIA Inc. will post 6.36 EPS for the current year.

PHINIA Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 23rd. Shareholders of record on Tuesday, June 9th will be given a dividend of $0.30 per share. The ex-dividend date of this dividend is Tuesday, June 9th. This represents a $1.20 annualized dividend and a yield of 1.5%. PHINIA's dividend payout ratio (DPR) is currently 33.52%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on PHIN shares. Freedom Capital cut shares of PHINIA from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 26th. Northland Securities set a $93.00 target price on shares of PHINIA in a report on Friday, February 13th. Wall Street Zen upgraded shares of PHINIA from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 2nd. UBS Group restated a "neutral" rating and issued a $76.00 target price on shares of PHINIA in a report on Friday, February 13th. Finally, Zacks Research upgraded shares of PHINIA from a "hold" rating to a "strong-buy" rating in a report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $68.80.

Insider Buying and Selling at PHINIA

In other PHINIA news, VP Neil Fryer sold 624 shares of the firm's stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $72.75, for a total transaction of $45,396.00. Following the completion of the transaction, the vice president owned 18,180 shares of the company's stock, valued at approximately $1,322,595. This trade represents a 3.32% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher Gustanski sold 3,812 shares of the firm's stock in a transaction on Wednesday, March 4th. The shares were sold at an average price of $72.73, for a total value of $277,246.76. Following the transaction, the vice president directly owned 14,871 shares of the company's stock, valued at $1,081,567.83. This represents a 20.40% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.20% of the company's stock.

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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.

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