Ion Asset Management Ltd. Has $30.78 Million Stock Position in PHINIA Inc. (NYSE:PHIN)

Ion Asset Management Ltd. boosted its holdings in PHINIA Inc. (NYSE:PHIN - Free Report) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 639,000 shares of the company's stock after purchasing an additional 46,316 shares during the period. PHINIA comprises about 1.8% of Ion Asset Management Ltd.'s portfolio, making the stock its 11th largest holding. Ion Asset Management Ltd. owned 1.52% of PHINIA worth $30,781,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP raised its stake in PHINIA by 14.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock valued at $98,653,000 after buying an additional 253,345 shares during the period. First Trust Advisors LP raised its stake in PHINIA by 32.6% in the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock valued at $89,928,000 after acquiring an additional 458,650 shares during the period. Voss Capital LP lifted its holdings in PHINIA by 31.8% during the 4th quarter. Voss Capital LP now owns 1,417,081 shares of the company's stock valued at $68,261,000 after purchasing an additional 342,081 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of PHINIA by 8.5% in the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company's stock valued at $68,120,000 after purchasing an additional 110,931 shares during the last quarter. Finally, LSV Asset Management raised its position in shares of PHINIA by 6.0% in the fourth quarter. LSV Asset Management now owns 832,236 shares of the company's stock valued at $40,089,000 after purchasing an additional 46,919 shares during the period. Institutional investors and hedge funds own 90.94% of the company's stock.

Wall Street Analyst Weigh In

PHIN has been the topic of a number of research reports. Northland Securities began coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an "outperform" rating and a $61.00 price target on the stock. BNP Paribas downgraded PHINIA from an "outperform" rating to a "neutral" rating and set a $46.00 price target for the company. in a research note on Wednesday, April 23rd. CL King assumed coverage on PHINIA in a research report on Monday, March 24th. They set a "buy" rating and a $54.00 price objective on the stock. UBS Group reissued a "neutral" rating and set a $45.00 target price (down previously from $56.00) on shares of PHINIA in a report on Thursday, April 10th. Finally, Northland Capmk upgraded shares of PHINIA to a "strong-buy" rating in a research note on Thursday, January 30th. Three research 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 stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $51.50.

Insider Activity at PHINIA

In related news, CEO Brady D. Ericson bought 10,000 shares of the firm's stock in a transaction on Wednesday, April 30th. The shares were purchased 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 owns 436,486 shares in the company, valued at $17,341,588.78. This represents a 2.34 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this link. 2.00% of the stock is currently owned by insiders.

PHINIA Price Performance

Shares of NYSE:PHIN traded up $1.44 during midday trading on Friday, hitting $41.87. The stock had a trading volume of 721,466 shares, compared to its average volume of 604,140. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $1.67 billion, a P/E ratio of 23.93 and a beta of 1.59. The company's 50-day moving average price is $42.44 and its 200-day moving average price is $47.55. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.94 earnings per share for the quarter, missing analysts' consensus estimates of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The business had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. During the same period in the prior year, the business posted $1.08 EPS. The company's revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, equities research analysts predict that PHINIA Inc. will post 4.21 EPS for the current fiscal year.

PHINIA Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were issued a $0.27 dividend. The ex-dividend date was Friday, February 28th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.58%. This is a boost from PHINIA's previous quarterly dividend of $0.25. PHINIA's dividend payout ratio is 61.36%.

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.