PHINIA (NYSE:PHIN) Hits New 1-Year High at $40.99

Shares of PHINIA Inc. (NYSE:PHIN - Get Free Report) reached a new 52-week high during trading on Monday . The stock traded as high as $40.99 and last traded at $40.86, with a volume of 510161 shares changing hands. The stock had previously closed at $38.85.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on shares of PHINIA in a report on Monday, March 11th. They set an "overweight" rating and a $50.00 price target for the company.

PHINIA Stock Performance

The stock has a fifty day simple moving average of $36.88 and a two-hundred day simple moving average of $31.16. The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.34. The business had revenue of $863.00 million for the quarter, compared to analyst estimates of $800.00 million. PHINIA had a return on equity of 7.52% and a net margin of 3.06%. The firm's revenue for the quarter was up 3.4% compared to the same quarter last year. On average, analysts forecast that PHINIA Inc. will post 4.05 earnings per share for the current year.

PHINIA Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 2.47%. The ex-dividend date was Friday, February 23rd.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust boosted its stake in shares of PHINIA by 816.7% during the fourth quarter. Parkside Financial Bank & Trust now owns 990 shares of the company's stock valued at $30,000 after purchasing an additional 882 shares in the last quarter. Oakworth Capital Inc. acquired a new stake in PHINIA during the 3rd quarter worth approximately $27,000. Whittier Trust Co. bought a new stake in PHINIA during the 3rd quarter worth approximately $29,000. Quarry LP acquired a new position in PHINIA in the 4th quarter valued at approximately $37,000. Finally, Truvestments Capital LLC bought a new position in shares of PHINIA during the third quarter valued at $35,000. Institutional investors own 90.94% 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.