PHINIA (NYSE:PHIN) Hits New 12-Month High at $38.36

PHINIA Inc. (NYSE:PHIN) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $38.36 and last traded at $38.12, with a volume of 5478 shares trading hands. The stock had previously closed at $37.87.

Wall Street Analyst Weigh In

Separately, Morgan Stanley began coverage on shares of PHINIA in a research note on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective for the company.

PHINIA Price Performance

The firm has a 50 day moving average price of $33.21 and a 200-day moving average price of $29.22. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last posted its earnings results on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.65 by $0.06. The firm had revenue of $882.00 million for the quarter, compared to analysts’ expectations of $900.00 million. The company’s revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. As a group, equities analysts predict that PHINIA Inc. will post 4.02 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, February 26th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.59%.

Institutional Investors Weigh In On PHINIA

A number of institutional investors have recently made changes to their positions in the stock. Oakworth Capital Inc. purchased a new stake in shares of PHINIA in the third quarter valued at approximately $27,000. Whittier Trust Co. purchased a new position in PHINIA in the third quarter valued at approximately $29,000. Parkside Financial Bank & Trust lifted its holdings in shares of PHINIA by 816.7% during the 4th quarter. Parkside Financial Bank & Trust now owns 990 shares of the company’s stock valued at $30,000 after acquiring an additional 882 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of PHINIA in the third quarter valued at about $35,000. Finally, Quarry LP acquired a new stake in PHINIA during the 4th quarter valued at $37,000. 90.94% of the stock is currently owned by institutional investors and hedge funds.

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.