Atom Investors LP Has $6.56 Million Stock Position in PHINIA Inc. (NYSE:PHIN)

Atom Investors LP grew its stake in shares of PHINIA Inc. (NYSE:PHIN) by 71.6% in the third quarter, Holdings Channel reports. The institutional investor owned 142,612 shares of the company’s stock after purchasing an additional 59,515 shares during the period. Atom Investors LP’s holdings in PHINIA were worth $6,564,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in PHIN. GAMMA Investing LLC raised its holdings in PHINIA by 100.4% in the 2nd quarter. GAMMA Investing LLC now owns 1,132 shares of the company’s stock valued at $45,000 after acquiring an additional 567 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of PHINIA in the second quarter valued at $49,000. Rothschild Investment LLC bought a new position in PHINIA in the second quarter worth $66,000. KBC Group NV lifted its position in PHINIA by 49.4% in the third quarter. KBC Group NV now owns 1,495 shares of the company’s stock worth $69,000 after purchasing an additional 494 shares during the period. Finally, Meeder Asset Management Inc. acquired a new stake in PHINIA during the second quarter worth $76,000. Institutional investors own 90.94% of the company’s stock.

PHINIA Stock Up 1.5 %

Shares of NYSE PHIN opened at $56.08 on Monday. PHINIA Inc. has a 52-week low of $25.39 and a 52-week high of $57.23. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.46 and a current ratio of 1.93. The business has a fifty day moving average of $48.61 and a two-hundred day moving average of $45.61. The stock has a market cap of $2.36 billion, a PE ratio of 24.07 and a beta of 0.86.

PHINIA (NYSE:PHIN) last released its quarterly earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.38. The firm had revenue of $839.00 million for the quarter, compared to analyst estimates of $829.82 million. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The company’s revenue for the quarter was down 6.4% compared to the same quarter last year. During the same period in the previous year, the business earned $0.53 earnings per share. As a group, equities research analysts expect that PHINIA Inc. will post 3.44 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Investors of record on Monday, November 25th will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, November 25th. This represents a $1.00 dividend on an annualized basis and a yield of 1.78%. PHINIA’s dividend payout ratio is 42.92%.

Analyst Ratings Changes

A number of research firms have recently commented on PHIN. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 price objective for the company. in a report on Wednesday, September 25th. UBS Group started coverage on PHINIA in a report on Wednesday, September 4th. They set a “buy” rating and a $55.00 price objective on the 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.