Aristeia Capital L.L.C. Purchases 692 Shares of PHINIA Inc. (NYSE:PHIN)

Aristeia Capital L.L.C. lifted its position in PHINIA Inc. (NYSE:PHIN) by 13.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,789 shares of the company’s stock after acquiring an additional 692 shares during the period. Aristeia Capital L.L.C.’s holdings in PHINIA were worth $279,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Commerce Bank grew its holdings in PHINIA by 1.7% in the fourth quarter. Commerce Bank now owns 13,696 shares of the company’s stock worth $660,000 after purchasing an additional 231 shares during the period. Mariner LLC grew its stake in shares of PHINIA by 1.3% in the 4th quarter. Mariner LLC now owns 19,739 shares of the company’s stock worth $951,000 after buying an additional 245 shares during the last quarter. Envestnet Asset Management Inc. grew its stake in shares of PHINIA by 5.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 6,870 shares of the company’s stock worth $331,000 after buying an additional 373 shares during the last quarter. Smartleaf Asset Management LLC increased its position in PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock valued at $33,000 after buying an additional 418 shares in the last quarter. Finally, KBC Group NV grew its stake in shares of PHINIA by 45.8% in the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock worth $105,000 after acquiring an additional 685 shares during the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Insider Activity

In related news, CEO Brady D. Ericson acquired 10,000 shares of the stock in a transaction dated Wednesday, April 30th. The shares were purchased at an average cost of $39.73 per share, with a total value of $397,300.00. Following the transaction, the chief executive officer now directly owns 436,486 shares in the company, valued at approximately $17,341,588.78. This represents a 2.34 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 2.00% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on PHIN shares. Northland Securities initiated coverage on shares of PHINIA in a research note on Thursday, January 30th. They issued an “outperform” rating and a $61.00 price target on the stock. Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. UBS Group restated a “neutral” rating and issued a $45.00 price objective (down from $56.00) on shares of PHINIA in a report on Thursday, April 10th. CL King initiated coverage on PHINIA in a research report on Monday, March 24th. They issued a “buy” rating and a $54.00 price objective on the stock. Finally, Bank of America began coverage on PHINIA in a report on Thursday, April 10th. They issued a “buy” rating and a $53.00 target price for the company. Three investment analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.50.

PHINIA Stock Performance

Shares of PHIN opened at $41.87 on Friday. The firm has a market capitalization of $1.67 billion, a P/E ratio of 23.93 and a beta of 1.59. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.90 and a quick ratio of 1.44. PHINIA Inc. has a one year low of $36.25 and a one year high of $57.23. The business has a fifty day moving average of $42.44 and a 200 day moving average of $47.55.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Friday, April 25th. The company reported $0.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.04 by ($0.10). PHINIA had a net margin of 2.32% and a return on equity of 10.12%. The firm had revenue of $796.00 million for the quarter, compared to the consensus estimate of $813.24 million. During the same quarter in the prior year, the firm earned $1.08 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.58%. The ex-dividend date was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. PHINIA’s dividend payout ratio (DPR) is currently 61.36%.

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.