PHINIA Inc. (NYSE:PHIN) Shares Purchased by Voss Capital LP

Voss Capital LP grew its holdings in shares of PHINIA Inc. (NYSE:PHIN - Free Report) by 31.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,417,081 shares of the company's stock after purchasing an additional 342,081 shares during the quarter. PHINIA comprises about 5.1% of Voss Capital LP's investment portfolio, making the stock its 9th biggest position. Voss Capital LP owned approximately 3.37% of PHINIA worth $68,261,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. MetLife Investment Management LLC grew its stake in shares of PHINIA by 4.7% in the fourth quarter. MetLife Investment Management LLC now owns 25,946 shares of the company's stock worth $1,250,000 after acquiring an additional 1,156 shares during the last quarter. Covalis Capital LLP boosted its holdings in PHINIA by 4.8% in the 4th quarter. Covalis Capital LLP now owns 263,466 shares of the company's stock valued at $12,691,000 after purchasing an additional 12,106 shares during the period. Dimensional Fund Advisors LP increased its holdings in shares of PHINIA by 14.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,048,051 shares of the company's stock worth $98,653,000 after purchasing an additional 253,345 shares during the period. First Trust Advisors LP increased its holdings in shares of PHINIA by 32.6% during the 4th quarter. First Trust Advisors LP now owns 1,866,894 shares of the company's stock worth $89,928,000 after purchasing an additional 458,650 shares during the period. Finally, HITE Hedge Asset Management LLC raised its position in shares of PHINIA by 31.8% during the fourth quarter. HITE Hedge Asset Management LLC now owns 91,279 shares of the company's stock valued at $4,397,000 after buying an additional 22,022 shares during the last quarter. Institutional investors and hedge funds own 90.94% of the company's stock.

PHINIA Trading Down 7.2 %

Shares of NYSE PHIN traded down $3.16 during midday trading on Friday, hitting $40.85. The stock had a trading volume of 873,165 shares, compared to its average volume of 609,627. The firm has a market cap of $1.63 billion, a P/E ratio of 23.34 and a beta of 1.56. PHINIA Inc. has a fifty-two week low of $36.25 and a fifty-two week high of $57.23. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. The company's 50-day simple moving average is $43.50 and its 200 day simple moving average is $47.69.

PHINIA (NYSE:PHIN - Get Free Report) last issued its earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate 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 the consensus estimate of $813.24 million. Research analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were paid a dividend of $0.27 per share. The ex-dividend date was Friday, February 28th. This is a boost from PHINIA's previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. PHINIA's payout ratio is 61.71%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Northland Capmk raised PHINIA to a "strong-buy" rating in a report on Thursday, January 30th. CL King initiated coverage on shares of PHINIA in a research note on Monday, March 24th. They issued a "buy" rating and a $54.00 target price on the stock. BNP Paribas cut shares of 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. UBS Group reaffirmed a "neutral" rating and issued a $45.00 price target (down previously from $56.00) on shares of PHINIA in a research note on Thursday, April 10th. Finally, Northland Securities began coverage on PHINIA in a report on Thursday, January 30th. They set an "outperform" rating and a $61.00 price objective for the company. Three research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, PHINIA presently has a consensus rating of "Moderate Buy" and an average target price of $51.50.

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.