Price T Rowe Associates Inc. MD buys 21,731 shares of PHINIA Inc. (NYSE:PHIN)

Price T Rowe Associates Inc. MD increased its position in PHINIA Inc. (NYSE:PHIN – Free Report) by 147.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,512 shares of the company’s stock after purchasing an additional 21,731 shares during the period. Price T Rowe Associates Inc. MD owned approximately 0.08% of PHINIA worth $1,404,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in shares of PHINIA in the first quarter valued at about $60,000. UniSuper Management Pty Ltd bought a new position in PHINIA in the 1st quarter worth about $447,000. Seven Eight Capital LP bought a new stake in shares of PHINIA in the first quarter valued at $519,000. O Shaughnessy Asset Management LLC boosted its holdings in shares of PHINIA by 15.0% in the first quarter. O Shaughnessy Asset Management LLC now owns 8,937 shares of the company’s stock worth $343,000 after purchasing an additional 1,169 shares during the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of PHINIA by 1.9% in the first quarter. Vanguard Group Inc. now owns 5,408,495 shares of the company’s stock worth $207,848,000 after purchasing an additional 102,769 shares in the last quarter. Institutional investors own 90.94% of the company’s shares.

PHINIA stock performance

Shares of PHINIA opened at $42.95 on Friday. The company has a market cap of $1.96 billion and a PE ratio of 8.71. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.27, and a current ratio of 1.85. The company has a 50 day simple moving average of $42.18 and a two hundred day simple moving average of $38.95. PHINIA Inc. has a one year low of $23.46 and a one year high of $47.51.

PHINIA (NYSE:PHIN – Get Your Free Report ) last posted its quarterly earnings results on Tuesday, July 30th. The company reported $0.88 EPS for the quarter, missing the consensus estimate of $1.15 by ($0.27). PHINIA had a net margin of 2.48% and a return on equity of 8.04%. The firm had revenue of $868.00 million for the quarter, compared to analysts’ expectations of $889.00 million. During the same period in the previous year, the firm posted EPS of $1.61. The company’s quarterly revenue was down 2.1% compared to the same quarter last year. Research analysts expect that PHINIA Inc. to post 3.37 EPS for the current fiscal year.

PHINIA announces dividends

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 23rd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Friday, August 23. This represents a dividend of $1.00 on an annualized basis and a yield of 2.33%. PHINIA’s payout ratio is 20.28%.

Internal activity at PHINIA

In other PHINIA news, VP Robert Boyle sold 1,828 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $43.77, for a total value of $80,011.56. Following the completion of the transaction, the vice president now directly owns 36,337 shares of the company’s stock, valued at approximately $1,590,470.49. The transaction was disclosed in a filing with the SEC, which is accessible via this link. 1.50% of shares are currently owned by insiders.

About PHINIA

(Free Report)

PHINIA Inc is engaged in the development, design and manufacture of components and integrated systems that optimize performance, increase efficiency and reduce emissions in combustion and hybrid propulsion for commercial and light-duty vehicles and industrial applications. The company operates through the Fuel Systems and Aftermarket segments.

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