PHINIA (NYSE:PHIN) Reaches New 52-Week High at $38.36

PHINIA Inc. (NYSE:PHIN) hit a new 52-week high during mid-day trading on Thursday . The stock 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.

Analyst Ratings Changes

Separately, Morgan Stanley began coverage on PHINIA in a report on Monday, March 11th. They issued an “overweight” rating and a $50.00 target price on the stock.

PHINIA Stock Performance

The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.25 and a current ratio of 1.68. The business’s 50-day simple moving average is $33.21 and its two-hundred day simple moving average is $29.22.

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

PHINIA Announces Dividend

The business 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. This represents a $1.00 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Friday, February 23rd.

Institutional Investors Weigh In On PHINIA

Several hedge funds have recently modified their holdings of PHIN. Vanguard Group Inc. purchased a new stake in shares of PHINIA during the third quarter worth about $142,304,000. Pacer Advisors Inc. grew its stake in PHINIA by 58.2% during the 4th quarter. Pacer Advisors Inc. now owns 2,350,167 shares of the company’s stock valued at $71,187,000 after purchasing an additional 865,016 shares in the last quarter. Cooper Creek Partners Management LLC purchased a new stake in PHINIA during the 3rd quarter worth approximately $56,398,000. Harris Associates L P acquired a new stake in shares of PHINIA during the third quarter worth approximately $53,654,000. Finally, LSV Asset Management increased its stake in shares of PHINIA by 5.8% in the fourth quarter. LSV Asset Management now owns 768,510 shares of the company’s stock worth $23,278,000 after buying an additional 42,080 shares during the last quarter. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

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.