21,581 Shares in PHINIA Inc. (NYSE:PHIN) Acquired by Arbor Wealth Advisors LLC

Arbor Wealth Advisors LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 21,581 shares of the company’s stock, valued at approximately $654,000. PHINIA accounts for approximately 0.7% of Arbor Wealth Advisors LLC’s holdings, making the stock its 25th biggest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers bought a new stake in PHINIA during the third quarter worth approximately $3,540,000. Invesco Ltd. acquired a new stake in shares of PHINIA during the 3rd quarter valued at $11,563,000. Assenagon Asset Management S.A. acquired a new stake in shares of PHINIA during the 4th quarter valued at $6,913,000. Janney Montgomery Scott LLC acquired a new stake in shares of PHINIA during the 3rd quarter valued at $656,000. Finally, Natixis Advisors L.P. acquired a new stake in shares of PHINIA during the 3rd quarter valued at $1,004,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Up 0.5 %

NYSE:PHIN traded up $0.18 during trading hours on Tuesday, hitting $38.87. 502,880 shares of the stock traded hands, compared to its average volume of 653,614. The firm has a 50 day moving average price of $36.28 and a 200 day moving average price of $30.83. The company has a current ratio of 1.68, a quick ratio of 1.25 and a debt-to-equity ratio of 0.38. PHINIA Inc. has a fifty-two week low of $23.46 and a fifty-two week high of $40.12. The firm has a market cap of $1.80 billion and a price-to-earnings ratio of 8.00.

PHINIA (NYSE:PHIN) last announced its earnings results on Wednesday, February 21st. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.65 by $0.06. The firm had revenue of $882.00 million for the quarter, compared to analyst estimates of $900.00 million. During the same period last year, the firm earned $1.75 earnings per share. PHINIA’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that PHINIA Inc. will post 4.05 earnings per share for the current year.

PHINIA Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.57%. The ex-dividend date of this dividend was Friday, February 23rd. PHINIA’s dividend payout ratio (DPR) is currently 20.58%.

Wall Street Analyst Weigh In

Separately, Morgan Stanley started coverage on PHINIA in a research report on Monday, March 11th. They set an “overweight” rating and a $50.00 price objective for the company.

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.