Brandywine Global Investment Management LLC Purchases New Holdings in PHINIA Inc. (NYSE:PHIN)

Brandywine Global Investment Management LLC bought a new stake in PHINIA Inc. (NYSE:PHIN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 142,712 shares of the company’s stock, valued at approximately $6,874,000.

Several other hedge funds and other institutional investors have also made changes to their positions in PHIN. American Century Companies Inc. boosted its position in PHINIA by 8.5% during the fourth quarter. American Century Companies Inc. now owns 1,414,155 shares of the company’s stock worth $68,120,000 after acquiring an additional 110,931 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in PHINIA by 10.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,016,602 shares of the company’s stock worth $46,794,000 after purchasing an additional 95,870 shares in the last quarter. Atom Investors LP boosted its holdings in shares of PHINIA by 71.6% during the 3rd quarter. Atom Investors LP now owns 142,612 shares of the company’s stock worth $6,564,000 after purchasing an additional 59,515 shares during the last quarter. Barclays PLC grew its position in shares of PHINIA by 336.2% in the third quarter. Barclays PLC now owns 72,805 shares of the company’s stock valued at $3,351,000 after purchasing an additional 56,114 shares in the last quarter. Finally, ABS Direct Equity Fund LLC grew its position in shares of PHINIA by 12,400.0% in the third quarter. ABS Direct Equity Fund LLC now owns 50,000 shares of the company’s stock valued at $2,302,000 after purchasing an additional 49,600 shares in the last quarter. Hedge funds and other institutional investors own 90.94% of the company’s stock.

PHINIA Stock Performance

NYSE PHIN opened at $42.56 on Tuesday. The stock has a fifty day simple moving average of $47.74 and a 200-day simple moving average of $48.68. The company has a current ratio of 1.90, a quick ratio of 1.44 and a debt-to-equity ratio of 0.61. The stock has a market cap of $1.74 billion, a PE ratio of 24.32 and a beta of 1.38. PHINIA Inc. has a twelve month low of $36.10 and a twelve month high of $57.23.

PHINIA (NYSE:PHIN) last announced its quarterly earnings results on Thursday, February 13th. The company reported $0.71 earnings per share for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.09). The company had revenue of $833.00 million for the quarter, compared to analyst estimates of $811.94 million. PHINIA had a net margin of 2.32% and a return on equity of 10.12%. Equities analysts anticipate that PHINIA Inc. will post 4.21 earnings per share for the current year.

PHINIA Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Friday, February 28th were paid a $0.27 dividend. The ex-dividend date of this dividend was Friday, February 28th. This is a boost from PHINIA’s previous quarterly dividend of $0.25. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.54%. PHINIA’s payout ratio is presently 61.71%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on PHIN shares. CL King began coverage on PHINIA in a research note on Monday, March 24th. They set a “buy” rating and a $54.00 price objective on the stock. UBS Group upped their price objective on shares of PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday, January 16th. Northland Securities assumed coverage on shares of PHINIA in a research note on Thursday, January 30th. They set an “outperform” rating and a $61.00 target price on the stock. Finally, Northland Capmk upgraded shares of PHINIA to a “strong-buy” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $55.50.

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.