SG Americas Securities LLC Makes New Investment in PHINIA Inc. (NYSE:PHIN)

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

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC raised its stake in shares of 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 acquiring an additional 418 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new position in PHINIA during the fourth quarter valued at $144,000. AlphaQuest LLC purchased a new stake in shares of PHINIA during the fourth quarter valued at approximately $173,000. State of Michigan Retirement System bought a new stake in shares of PHINIA in the 4th quarter worth $203,000. Finally, Optimize Financial Inc purchased a new position in shares of PHINIA in the fourth quarter worth $206,000. 90.94% of the stock is currently owned by institutional investors.

Insider Transactions at PHINIA

In other PHINIA news, Director Meggan M. Walsh acquired 1,400 shares of PHINIA stock in a transaction that occurred on Thursday, May 22nd. The stock was bought 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 directly owns 7,492 shares of the company's stock, valued at approximately $319,983.32. This represents a 22.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Brady D. Ericson acquired 10,000 shares of the firm's stock in a transaction that occurred on Wednesday, April 30th. The shares were bought at an average price of $39.73 per share, with a total value 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. The trade was a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders purchased 11,423 shares of company stock worth $458,069. 2.00% of the stock is currently owned by company insiders.

PHINIA Price Performance

PHIN stock traded up $0.19 during midday trading on Friday, hitting $44.75. The company's stock had a trading volume of 784,038 shares, compared to its average volume of 579,903. The firm has a market capitalization of $1.78 billion, a price-to-earnings ratio of 25.42, a price-to-earnings-growth ratio of 0.49 and a beta of 1.55. The company has a 50 day moving average of $42.79 and a two-hundred day moving average of $45.47. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a quick ratio of 1.36, a current ratio of 1.85 and a debt-to-equity ratio of 0.63.

PHINIA (NYSE:PHIN - Get Free Report) last posted its earnings results on Friday, April 25th. The company reported $0.94 EPS for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). PHINIA had a return on equity of 9.88% and a net margin of 2.28%. The firm had revenue of $796.00 million during the quarter, compared to analysts' expectations of $813.24 million. During the same quarter in the prior year, the firm posted $1.08 earnings per share. PHINIA's quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts expect that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, June 16th. Shareholders of record on Monday, June 2nd were given a dividend of $0.27 per share. The ex-dividend date 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 (DPR) is presently 61.36%.

Wall Street Analysts Forecast Growth

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

PHINIA 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.