SG Americas Securities LLC Invests $357,000 in PHINIA Inc. (NYSE:PHIN)

SG Americas Securities LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 8,415 shares of the company's stock, valued at approximately $357,000.

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

Wall Street Analyst Weigh In

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

PHINIA Price Performance

PHINIA stock traded up $0.19 during mid-day trading on Friday, reaching $44.75. The company had a trading volume of 784,038 shares, compared to its average volume of 552,938. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The company has a current ratio of 1.85, a quick ratio of 1.36 and a debt-to-equity ratio of 0.63. The company has a market cap of $1.78 billion, a P/E ratio of 25.42, a P/E/G ratio of 0.49 and a beta of 1.55. The business has a fifty day simple moving average of $42.79 and a 200 day simple moving average of $45.36.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results 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). PHINIA had a net margin of 2.28% and a return on equity of 9.88%. The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same quarter in the prior year, the business earned $1.08 EPS. The business's quarterly revenue was down 7.8% on a year-over-year basis. On average, equities research analysts predict that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a $0.27 dividend. The ex-dividend date of this dividend was Monday, June 2nd. This represents a $1.08 dividend on an annualized basis and a yield of 2.41%. PHINIA's dividend payout ratio is currently 61.36%.

Insider Buying and Selling at PHINIA

In other PHINIA news, Director Meggan M. Walsh purchased 1,400 shares of the business's stock in a transaction dated Thursday, May 22nd. The shares were bought at an average price of $42.71 per share, for a total transaction of $59,794.00. Following the completion of the acquisition, the director now owns 7,492 shares in the company, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Brady D. Ericson purchased 10,000 shares of the business's stock in a transaction dated Wednesday, April 30th. The shares were acquired at an average price of $39.73 per share, for a total transaction of $397,300.00. Following the acquisition, the chief executive officer now owns 436,486 shares of the company's stock, valued at $17,341,588.78. This trade represents a 2.34% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 11,423 shares of company stock worth $458,069 over the last quarter. Corporate insiders own 2.00% 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.