PHINIA Inc. (NYSE:PHIN) to Issue $0.27 Quarterly Dividend

Key Points

• PHINIA Inc. declared a quarterly dividend of $0.27 per share, which will be paid to shareholders on September 12th, representing a 2.1% dividend yield.
• The company reported strong earnings, with $1.27 earnings per share, surpassing the consensus estimate by $0.28, and a revenue increase of 2.5% year-over-year.
• Institutional investors hold approximately 90.94% of PHINIA's stock, indicating significant interest from large investment firms.

PHINIA Inc. (NYSE:PHIN - Get Free Report) declared a quarterly dividend on Thursday, July 31st, RTT News reports. Shareholders of record on Friday, August 22nd will be given a dividend of 0.27 per share on Friday, September 12th. This represents a c) annualized dividend and a dividend yield of 2.1%.

PHINIA has a dividend payout ratio of 23.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect PHINIA to earn $5.20 per share next year, which means the company should continue to be able to cover its $1.08 annual dividend with an expected future payout ratio of 20.8%.

PHINIA Price Performance

Shares of NYSE PHIN traded down $0.65 during trading on Thursday, hitting $50.59. The company had a trading volume of 540,300 shares, compared to its average volume of 523,517. The business's 50-day moving average is $45.71 and its 200 day moving average is $45.45. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.36 and a current ratio of 1.86. PHINIA has a 52 week low of $36.25 and a 52 week high of $57.23. The company has a market cap of $1.97 billion, a P/E ratio of 19.53, a PEG ratio of 0.49 and a beta of 1.49.

PHINIA (NYSE:PHIN - Get Free Report) last announced its earnings results on Thursday, July 24th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.28. PHINIA had a net margin of 3.22% and a return on equity of 10.74%. The company had revenue of $890.00 million for the quarter, compared to the consensus estimate of $836.51 million. During the same period in the previous year, the business earned $0.88 EPS. The company's revenue was up 2.5% on a year-over-year basis. Equities research analysts predict that PHINIA will post 4.21 earnings per share for the current fiscal year.

Insider Buying and Selling at PHINIA

In other news, Director Meggan M. Walsh acquired 1,400 shares of the stock in a transaction dated Thursday, May 22nd. The shares were bought at an average cost of $42.71 per share, for a total transaction of $59,794.00. Following the purchase, the director directly owned 7,492 shares of the company's stock, valued at approximately $319,983.32. This trade represents a 22.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 2.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. CX Institutional acquired a new position in PHINIA in the 1st quarter valued at about $31,000. Brooklyn Investment Group grew its stake in PHINIA by 853.0% in the 1st quarter. Brooklyn Investment Group now owns 1,582 shares of the company's stock valued at $67,000 after buying an additional 1,416 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in PHINIA in the 4th quarter valued at about $144,000. Optimize Financial Inc acquired a new position in PHINIA in the 4th quarter valued at about $206,000. Finally, One Wealth Advisors LLC acquired a new position in PHINIA in the 1st quarter valued at about $210,000. Institutional investors and hedge funds own 90.94% of the company's stock.

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.

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