Jackson Creek Investment Advisors LLC Invests $1.92 Million in PHINIA Inc. $PHIN

Jackson Creek Investment Advisors LLC purchased a new stake in shares of PHINIA Inc. (NYSE:PHIN) during the 3rd quarter, HoldingsChannel.com reports. The fund purchased 33,315 shares of the company’s stock, valued at approximately $1,915,000.

A number of other hedge funds also recently added to or reduced their stakes in PHIN. Jones Financial Companies Lllp increased its position in PHINIA by 296.7% during the 3rd quarter. Jones Financial Companies Lllp now owns 1,436 shares of the company’s stock valued at $83,000 after purchasing an additional 1,074 shares during the period. State of Wyoming boosted its stake in shares of PHINIA by 91.8% during the third quarter. State of Wyoming now owns 2,570 shares of the company’s stock valued at $148,000 after purchasing an additional 1,230 shares in the last quarter. Ballast Asset Management LP boosted its stake in shares of PHINIA by 2.8% during the third quarter. Ballast Asset Management LP now owns 42,557 shares of the company’s stock valued at $2,446,000 after purchasing an additional 1,147 shares in the last quarter. AlphaQuest LLC increased its holdings in PHINIA by 10.7% during the third quarter. AlphaQuest LLC now owns 46,476 shares of the company’s stock valued at $2,671,000 after buying an additional 4,486 shares during the period. Finally, Knights of Columbus Asset Advisors LLC raised its stake in PHINIA by 3.4% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 50,320 shares of the company’s stock worth $2,892,000 after buying an additional 1,654 shares in the last quarter. 90.94% of the stock is owned by hedge funds and other institutional investors.

PHINIA Stock Down 2.0%

Shares of PHIN stock opened at $69.77 on Tuesday. The stock’s fifty day moving average price is $62.76 and its 200 day moving average price is $57.51. PHINIA Inc. has a 1-year low of $36.25 and a 1-year high of $72.04. The company has a market cap of $2.68 billion, a price-to-earnings ratio of 31.43 and a beta of 1.37. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.72 and a quick ratio of 1.25.

PHINIA Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Friday, March 6th will be issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 1.7%. This is an increase from PHINIA’s previous quarterly dividend of $0.27. The ex-dividend date is Friday, March 6th. PHINIA’s dividend payout ratio is currently 48.65%.

Analysts Set New Price Targets

Several brokerages have issued reports on PHIN. UBS Group increased their target price on PHINIA from $59.00 to $71.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. Weiss Ratings restated a “hold (c)” rating on shares of PHINIA in a research note on Monday, December 29th. Citigroup reaffirmed a “neutral” rating on shares of PHINIA in a research report on Tuesday, October 14th. Wall Street Zen upgraded shares of PHINIA from a “buy” rating to a “strong-buy” rating in a report on Saturday, January 10th. Finally, Northland Securities raised their price target on shares of PHINIA from $65.00 to $79.00 and gave the company an “outperform” rating in a report on Tuesday, December 30th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, PHINIA presently has a consensus rating of “Moderate Buy” and a consensus price target of $63.17.

Insider Activity at PHINIA

In other PHINIA news, VP Samantha Pombier sold 1,940 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $54.14, for a total value of $105,031.60. Following the completion of the transaction, the vice president owned 8,869 shares of the company’s stock, valued at approximately $480,167.66. This trade represents a 17.95% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Hongyong Yang sold 893 shares of the business’s stock in a transaction on Wednesday, November 19th. The shares were sold at an average price of $52.43, for a total transaction of $46,819.99. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 2.00% of the company’s stock.

PHINIA Company 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. The Fuel Systems segment provides advanced fuel injection systems, including pumps, injectors, fuel rail assemblies, and engine control modules; fuel delivery modules; canisters; sensors; and electronic control modules.