PHINIA Inc. (NYSE:PHIN) Short Interest Update

PHINIA Inc. (NYSE:PHIN) was the target of a large decline in short interest during the month of December. As of December 31st, there was short interest totalling 2,510,000 shares, a decline of 16.6% from the December 15th total of 3,010,000 shares. Approximately 6.1% of the company’s stock are short sold. Based on an average daily volume of 468,200 shares, the short-interest ratio is presently 5.4 days.

Wall Street Analysts Forecast Growth

PHIN has been the topic of several analyst reports. Morgan Stanley downgraded shares of PHINIA from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a research report on Wednesday, September 25th. UBS Group increased their price objective on PHINIA from $55.00 to $57.00 and gave the company a “buy” rating in a report on Thursday.

PHINIA Stock Performance

Shares of NYSE:PHIN traded down $0.74 during trading on Thursday, reaching $51.24. The stock had a trading volume of 350,510 shares, compared to its average volume of 393,651. The stock has a fifty day simple moving average of $51.30 and a two-hundred day simple moving average of $47.31. The company has a quick ratio of 1.46, a current ratio of 1.93 and a debt-to-equity ratio of 0.58. PHINIA has a 52 week low of $27.86 and a 52 week high of $57.23. The firm has a market capitalization of $2.16 billion, a price-to-earnings ratio of 21.99 and a beta of 1.35.

PHINIA (NYSE:PHIN) last announced its earnings results on Thursday, October 31st. The company reported $1.17 EPS for the quarter, topping the consensus estimate of $0.79 by $0.38. PHINIA had a net margin of 3.10% and a return on equity of 9.79%. The firm had revenue of $839.00 million for the quarter, compared to the consensus estimate of $829.82 million. During the same quarter last year, the firm posted $0.53 EPS. The business’s quarterly revenue was down 6.4% on a year-over-year basis. As a group, analysts anticipate that PHINIA will post 3.44 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 13th. Investors of record on Monday, November 25th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, November 25th. This represents a $1.00 annualized dividend and a dividend yield of 1.95%. PHINIA’s dividend payout ratio is presently 42.92%.

Institutional Trading of PHINIA

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PHIN. Pacer Advisors Inc. acquired a new position in shares of PHINIA during the third quarter worth approximately $80,154,000. American Century Companies Inc. raised its stake in PHINIA by 33.2% during the 2nd quarter. American Century Companies Inc. now owns 1,009,106 shares of the company’s stock valued at $39,718,000 after purchasing an additional 251,650 shares during the last quarter. Empowered Funds LLC acquired a new position in PHINIA during the 3rd quarter valued at $10,504,000. Dimensional Fund Advisors LP boosted its holdings in PHINIA by 19.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,317,846 shares of the company’s stock valued at $51,869,000 after purchasing an additional 215,150 shares during the period. Finally, Foundry Partners LLC acquired a new stake in PHINIA in the 3rd quarter worth $7,911,000. Institutional investors and hedge funds own 90.94% 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.