Alaska Permanent Fund Corp Raises Stock Holdings in PHINIA Inc. (NYSE:PHIN)

Alaska Permanent Fund Corp boosted its position in shares of PHINIA Inc. (NYSE:PHIN) by 132.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,578 shares of the company’s stock after purchasing an additional 13,418 shares during the quarter. Alaska Permanent Fund Corp owned about 0.05% of PHINIA worth $714,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust increased its holdings in shares of PHINIA by 816.7% in the 4th quarter. Parkside Financial Bank & Trust now owns 990 shares of the company’s stock valued at $30,000 after acquiring an additional 882 shares during the period. Oakworth Capital Inc. acquired a new stake in shares of PHINIA in the 3rd quarter worth $27,000. Whittier Trust Co. acquired a new stake in shares of PHINIA in the 3rd quarter worth $29,000. Truvestments Capital LLC acquired a new stake in shares of PHINIA in the 3rd quarter worth $35,000. Finally, Fifth Third Bancorp acquired a new stake in shares of PHINIA in the 3rd quarter worth $42,000. 90.94% of the stock is currently owned by hedge funds and other institutional investors.

PHINIA Stock Performance

Shares of PHIN opened at $38.32 on Friday. The stock has a 50-day moving average of $36.43 and a two-hundred day moving average of $30.89. PHINIA Inc. has a one year low of $23.46 and a one year high of $40.12. The company has a quick ratio of 1.25, a current ratio of 1.68 and a debt-to-equity ratio of 0.38.

PHINIA (NYSE:PHIN) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.34. The company had revenue of $863.00 million for the quarter, compared to analysts’ expectations of $800.00 million. The company’s quarterly revenue was up 3.4% on a year-over-year basis. On average, research analysts forecast that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, February 26th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, February 23rd. This represents a $1.00 annualized dividend and a dividend yield of 2.61%.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley assumed coverage on PHINIA in a research report on Monday, March 11th. They issued an “overweight” rating and a $50.00 price objective for the company.

About PHINIA

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.