Strs Ohio Purchases Shares of 17,900 PHINIA Inc. $PHIN

Key Points

• Strs Ohio has acquired a new stake in PHINIA Inc., purchasing 17,900 shares valued at approximately $759,000 during the first quarter.
• PHINIA posted better-than-expected quarterly earnings, with an EPS of $1.27, surpassing analysts' estimates of $0.99, and reported a 2.5% year-over-year revenue increase.
• The company has announced a quarterly dividend of $0.27 per share, resulting in an annualized yield of 1.8%, with a dividend payout ratio of 41.70%.

Strs Ohio acquired a new stake in shares of PHINIA Inc. (NYSE:PHIN - Free Report) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 17,900 shares of the company's stock, valued at approximately $759,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Jane Street Group LLC raised its position in PHINIA by 94.1% in the 1st quarter. Jane Street Group LLC now owns 250,278 shares of the company's stock worth $10,619,000 after purchasing an additional 121,312 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in PHINIA by 7.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company's stock worth $4,000,000 after purchasing an additional 6,478 shares during the last quarter. Woodline Partners LP bought a new position in PHINIA in the 1st quarter worth approximately $4,789,000. Empowered Funds LLC raised its position in shares of PHINIA by 2.0% during the 1st quarter. Empowered Funds LLC now owns 244,732 shares of the company's stock valued at $10,384,000 after acquiring an additional 4,911 shares during the last quarter. Finally, Goldman Sachs Group Inc. lifted its stake in shares of PHINIA by 6.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company's stock valued at $41,462,000 after purchasing an additional 58,875 shares during the period. 90.94% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PHIN has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on shares of PHINIA from $46.00 to $48.00 and gave the stock an "equal weight" rating in a research note on Tuesday, August 12th. Bank of America upped their target price on shares of PHINIA from $60.00 to $64.00 and gave the stock a "buy" rating in a research note on Wednesday, September 10th. Wall Street Zen raised shares of PHINIA from a "hold" rating to a "strong-buy" rating in a research note on Saturday, July 26th. Finally, UBS Group reaffirmed a "neutral" rating and issued a $55.00 target price (up from $52.00) on shares of PHINIA in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, PHINIA has an average rating of "Moderate Buy" and an average price target of $54.67.

PHINIA Stock Performance

PHIN stock traded up $0.74 during mid-day trading on Tuesday, hitting $58.95. 11,069 shares of the company were exchanged, compared to its average volume of 505,412. The business has a 50 day simple moving average of $54.74 and a 200-day simple moving average of $47.06. The company has a current ratio of 1.86, a quick ratio of 1.36 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $2.29 billion, a PE ratio of 22.75, a price-to-earnings-growth ratio of 0.52 and a beta of 1.53. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $59.88.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $0.99 by $0.28. The company had revenue of $890.00 million for the quarter, compared to analysts' expectations of $836.51 million. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The business's revenue for the quarter was up 2.5% on a year-over-year basis. During the same period last year, the firm earned $0.88 earnings per share. PHINIA has set its FY 2025 guidance at EPS. On average, equities analysts forecast that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 12th. Shareholders of record on Friday, August 22nd were given a $0.27 dividend. The ex-dividend date was Friday, August 22nd. This represents a $1.08 dividend on an annualized basis and a yield of 1.8%. PHINIA's dividend payout ratio (DPR) is currently 41.70%.

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.