PHINIA (NYSE:PHIN) Hits New 1-Year High at $44.43

PHINIA Inc. (NYSE:PHIN - Get Free Report)'s share price reached a new 52-week high on Monday . The stock traded as high as $44.43 and last traded at $43.97, with a volume of 26446 shares changing hands. The stock had previously closed at $43.68.

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on PHINIA in a report on Monday, March 11th. They issued an "overweight" rating and a $50.00 target price on the stock.

PHINIA Trading Down 1.0 %

The company has a quick ratio of 1.27, a current ratio of 1.71 and a debt-to-equity ratio of 0.38. The firm has a market cap of $1.98 billion and a price-to-earnings ratio of 8.76. The business has a 50 day moving average of $38.26 and a 200 day moving average of $32.11.

PHINIA (NYSE:PHIN - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.08 EPS for the quarter, beating analysts' consensus estimates 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 company's revenue was up 3.4% on a year-over-year basis. On average, research analysts forecast that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Investors of record on Friday, May 24th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, May 23rd. This represents a $1.00 annualized dividend and a yield of 2.31%. PHINIA's dividend payout ratio (DPR) is presently 20.24%.

Hedge Funds Weigh In On PHINIA

Several large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its position in PHINIA by 1.9% during the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company's stock worth $207,848,000 after buying an additional 102,769 shares during the period. Pacer Advisors Inc. lifted its position in PHINIA by 58.2% during the fourth quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company's stock worth $71,187,000 after buying an additional 865,016 shares during the period. Cooper Creek Partners Management LLC purchased a new position in PHINIA during the third quarter worth about $56,398,000. Harris Associates L P purchased a new position in shares of PHINIA in the 3rd quarter worth about $53,654,000. Finally, LSV Asset Management raised its holdings in shares of PHINIA by 0.8% in the 1st quarter. LSV Asset Management now owns 774,777 shares of the company's stock worth $29,775,000 after purchasing an additional 6,267 shares during the period. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.