Point72 Asset Management L.P. Invests $2.63 Million in PHINIA Inc. (NYSE:PHIN)

Point72 Asset Management L.P. bought a new position in PHINIA Inc. (NYSE:PHIN - Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 54,670 shares of the company's stock, valued at approximately $2,633,000. Point72 Asset Management L.P. owned 0.13% of PHINIA as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of PHIN. Millennium Management LLC lifted its position in shares of PHINIA by 28.3% in the fourth quarter. Millennium Management LLC now owns 2,424,949 shares of the company's stock valued at $116,810,000 after acquiring an additional 535,222 shares in the last quarter. First Trust Advisors LP boosted its stake in PHINIA by 32.6% in the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares during the period. Voss Capital LP raised its position in shares of PHINIA by 31.8% during the fourth quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after buying an additional 342,081 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in shares of PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after buying an additional 253,345 shares in the last quarter. Finally, Brandywine Global Investment Management LLC bought a new position in shares of PHINIA during the fourth quarter worth $6,874,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Trading Down 0.1%

Shares of PHINIA stock traded down $0.04 on Monday, reaching $42.81. The company had a trading volume of 373,048 shares, compared to its average volume of 591,458. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of 24.46 and a beta of 1.59. 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's 50-day moving average price is $41.95 and its two-hundred day moving average price is $47.23. PHINIA Inc. has a 1 year low of $36.25 and a 1 year high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its quarterly earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing the consensus estimate of $1.04 by ($0.10). The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business's revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.08 earnings per share. As a group, research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Investors of record on Monday, June 2nd will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.52%. The ex-dividend date is Monday, June 2nd. PHINIA's dividend payout ratio is currently 61.36%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group reiterated a "neutral" rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. BNP Paribas lowered PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. Bank of America lifted their price objective on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research note on Thursday, May 15th. CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 target price for the company. Finally, Morgan Stanley cut their target price on shares of PHINIA from $50.00 to $46.00 and set an "equal weight" rating for the company in a report on Monday, May 19th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $51.17.

Insider Activity at PHINIA

In related news, Director Meggan M. Walsh purchased 1,400 shares of the firm's stock in a transaction dated Thursday, May 22nd. The stock was purchased at an average price of $42.71 per share, with a total value of $59,794.00. Following the completion of the purchase, the director now owns 7,492 shares of the company's stock, valued at approximately $319,983.32. The trade was a 22.98% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Brady D. Ericson acquired 10,000 shares of the company's stock in a transaction that occurred 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 purchase, the chief executive officer now owns 436,486 shares of the company's stock, valued at $17,341,588.78. This represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. 2.00% of the stock is owned by company insiders.

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.