Ion Asset Management Ltd. Acquires 46,316 Shares of PHINIA Inc. (NYSE:PHIN)

Ion Asset Management Ltd. raised its position in PHINIA Inc. (NYSE:PHIN) by 7.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 639,000 shares of the company’s stock after purchasing an additional 46,316 shares during the quarter. PHINIA accounts for approximately 1.8% of Ion Asset Management Ltd.’s holdings, making the stock its 11th biggest holding. Ion Asset Management Ltd.’s holdings in PHINIA were worth $30,781,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PHIN. Smartleaf Asset Management LLC lifted its stake in shares of PHINIA by 149.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 698 shares of the company’s stock worth $33,000 after purchasing an additional 418 shares during the last quarter. KBC Group NV lifted its holdings in PHINIA by 45.8% during the fourth quarter. KBC Group NV now owns 2,180 shares of the company’s stock valued at $105,000 after purchasing an additional 685 shares in the last quarter. AlphaQuest LLC purchased a new stake in shares of PHINIA during the fourth quarter worth $173,000. State of Michigan Retirement System purchased a new position in PHINIA during the fourth quarter worth approximately $203,000. Finally, Optimize Financial Inc acquired a new position in PHINIA in the 4th quarter valued at about $206,000. Hedge funds and other institutional investors own 90.94% of the company’s stock.

Wall Street Analyst Weigh In

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

PHINIA Stock Up 0.1 %

Shares of PHIN stock opened at $40.84 on Tuesday. The stock has a 50 day moving average of $43.26 and a 200-day moving average of $47.70. PHINIA Inc. has a 12 month low of $36.25 and a 12 month high of $57.23. The company has a quick ratio of 1.44, a current ratio of 1.90 and a debt-to-equity ratio of 0.61. The firm has a market cap of $1.63 billion, a PE ratio of 23.34 and a beta of 1.56.

PHINIA (NYSE:PHIN) last issued its 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). The company had revenue of $796.00 million during the quarter, compared to analyst estimates of $813.24 million. PHINIA had a return on equity of 10.12% and a net margin of 2.32%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.08 earnings per share. On average, equities analysts predict that PHINIA Inc. will post 4.21 EPS for the current year.

PHINIA Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Friday, February 28th were given a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.64%. This is an increase from PHINIA’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, February 28th. 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.