PHINIA (NYSE:PHIN) Reaches New 1-Year High After Dividend Announcement

PHINIA Inc. (NYSE:PHIN) shares reached a new 52-week high during mid-day trading on Friday following a dividend announcement from the company. The stock traded as high as $72.04 and last traded at $70.7350, with a volume of 14334 shares trading hands. The stock had previously closed at $70.44.

The newly announced dividend which will be paid on Friday, March 20th. Shareholders of record on Friday, March 6th will be given a $0.30 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $1.20 annualized dividend and a yield of 1.7%. This is an increase from PHINIA’s previous quarterly dividend of $0.27. PHINIA’s dividend payout ratio is presently 48.65%.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of PHINIA in a report on Monday, December 29th. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a report on Tuesday, October 14th. Northland Securities boosted their price target on shares of PHINIA from $65.00 to $79.00 and gave the stock an “outperform” rating in a report on Tuesday, December 30th. Zacks Research upgraded shares of PHINIA from a “hold” rating to a “strong-buy” rating in a report on Wednesday, December 31st. Finally, BNP Paribas Exane upgraded shares of PHINIA from a “neutral” rating to an “outperform” rating and set a $63.00 target price for the company in a research note on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, PHINIA currently has a consensus rating of “Moderate Buy” and an average price target of $63.17.

PHINIA Stock Performance

The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25. The company has a market cap of $2.72 billion, a PE ratio of 31.93 and a beta of 1.37. The stock has a 50 day simple moving average of $62.08 and a two-hundred day simple moving average of $57.08.

PHINIA (NYSE:PHIN) last issued its quarterly earnings data on Tuesday, October 28th. The company reported $1.59 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.17 by $0.42. PHINIA had a net margin of 2.63% and a return on equity of 11.64%. The company had revenue of $908.00 million for the quarter, compared to the consensus estimate of $861.57 million. During the same period last year, the firm posted $1.17 EPS. PHINIA’s revenue for the quarter was up 8.2% on a year-over-year basis. Equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

Insider Activity at PHINIA

In related news, VP Hongyong Yang sold 893 shares of PHINIA stock in a transaction that occurred on Wednesday, November 19th. The stock was sold at an average price of $52.43, for a total value of $46,819.99. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Samantha Pombier sold 1,940 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $54.14, for a total value of $105,031.60. Following the sale, the vice president owned 8,869 shares in the company, valued at approximately $480,167.66. The trade was a 17.95% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 2.00% of the company’s stock.

Hedge Funds Weigh In On PHINIA

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada increased its stake in PHINIA by 464.8% during the first quarter. Royal Bank of Canada now owns 75,745 shares of the company’s stock worth $3,214,000 after acquiring an additional 62,333 shares during the last quarter. AQR Capital Management LLC raised its holdings in PHINIA by 62.3% in the first quarter. AQR Capital Management LLC now owns 22,343 shares of the company’s stock valued at $938,000 after buying an additional 8,576 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in PHINIA by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 24,891 shares of the company’s stock valued at $1,056,000 after buying an additional 1,093 shares during the period. Goldman Sachs Group Inc. grew its stake in PHINIA by 6.4% during the first quarter. Goldman Sachs Group Inc. now owns 977,177 shares of the company’s stock worth $41,462,000 after buying an additional 58,875 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of PHINIA by 7.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 94,270 shares of the company’s stock worth $4,000,000 after acquiring an additional 6,478 shares in the last quarter. 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.