Twinbeech Capital LP Grows Stock Position in PHINIA Inc. (NYSE:PHIN)

Twinbeech Capital LP grew its position in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 672.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,640 shares of the company's stock after purchasing an additional 79,784 shares during the quarter. Twinbeech Capital LP owned approximately 0.22% of PHINIA worth $4,414,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Commerce Bank raised its stake in shares of PHINIA by 1.7% during the 4th quarter. Commerce Bank now owns 13,696 shares of the company's stock worth $660,000 after buying an additional 231 shares during the period. Mariner LLC grew its position in shares of PHINIA by 1.3% in the fourth quarter. Mariner LLC now owns 19,739 shares of the company's stock valued at $951,000 after purchasing an additional 245 shares during the period. Envestnet Asset Management Inc. increased its stake in shares of PHINIA by 5.7% during the fourth quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company's stock worth $331,000 after purchasing an additional 373 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company's stock worth $33,000 after purchasing an additional 418 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of PHINIA by 3.0% during the 4th quarter. Quantinno Capital Management LP now owns 15,081 shares of the company's stock worth $726,000 after purchasing an additional 444 shares during the last quarter. 90.94% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Northland Capmk upgraded PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. UBS Group reaffirmed 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. Bank of America boosted their price target on PHINIA from $53.00 to $55.00 and gave the stock a "buy" rating in a research report on Thursday, May 15th. CL King initiated coverage on PHINIA in a report on Monday, March 24th. They issued a "buy" rating and a $54.00 price objective on the stock. Finally, 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 report on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, PHINIA has an average rating of "Moderate Buy" and an average price target of $51.17.

Insider Transactions at PHINIA

In other news, Director Meggan M. Walsh purchased 1,400 shares of the firm's stock in a transaction dated Thursday, May 22nd. The shares were acquired at an average price of $42.71 per share, with a total value of $59,794.00. Following the purchase, the director now directly owns 7,492 shares of the company's stock, valued at $319,983.32. The trade was a 22.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Brady D. Ericson purchased 10,000 shares of the stock in a transaction that occurred on Wednesday, April 30th. The stock was purchased 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 in the company, valued at approximately $17,341,588.78. This trade represents a 2.34% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 2.00% of the company's stock.

PHINIA Trading Down 0.1%

NYSE:PHIN traded down $0.04 during trading hours on Monday, reaching $42.81. 373,048 shares of the stock were exchanged, compared to its average volume of 591,458. PHINIA Inc. has a twelve month low of $36.25 and a twelve month high of $57.23. The business has a 50-day moving average of $41.95 and a two-hundred day moving average of $47.23. The company has a market capitalization of $1.70 billion, a price-to-earnings ratio of 24.46 and a beta of 1.59. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61.

PHINIA (NYSE:PHIN - Get Free Report) last announced its quarterly earnings data 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 10.12% and a net margin of 2.32%. The company had revenue of $796.00 million for the quarter, compared to analyst estimates of $813.24 million. During the same period in the prior year, the firm posted $1.08 earnings per share. The business's quarterly revenue was down 7.8% compared to the same quarter last year. On average, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Dividend Announcement

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

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.