PHINIA Inc. (PHIN) to Issue Quarterly Dividend of $0.30 on June 23rd

PHINIA Inc. (NYSE:PHIN) declared a quarterly dividend on Friday, May 22nd. Investors of record on Tuesday, June 9th will be given a dividend of 0.30 per share on Tuesday, June 23rd. This represents a c) annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, June 9th.

PHINIA has a payout ratio of 25.5% indicating that its dividend is sufficiently covered by earnings. Analysts expect PHINIA to earn $7.28 per share next year, which means the company should continue to be able to cover its $1.20 annual dividend with an expected future payout ratio of 16.5%.

PHINIA Stock Down 3.6%

PHIN stock opened at $79.32 on Friday. The business has a 50-day simple moving average of $73.99 and a 200 day simple moving average of $68.37. PHINIA has a 52 week low of $41.59 and a 52 week high of $83.35. The company has a quick ratio of 1.32, a current ratio of 1.82 and a debt-to-equity ratio of 0.62. The company has a market cap of $2.94 billion, a PE ratio of 22.16 and a beta of 1.16.

PHINIA (NYSE:PHIN) last issued its earnings results on Thursday, April 30th. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.16. PHINIA had a return on equity of 13.23% and a net margin of 3.96%.The company had revenue of $878.00 million for the quarter, compared to analysts’ expectations of $838.67 million. During the same period last year, the business earned $0.94 EPS. PHINIA’s quarterly revenue was up 10.3% compared to the same quarter last year. Sell-side analysts anticipate that PHINIA will post 6.36 EPS for the current fiscal year.

Institutional Investors Weigh In On PHINIA

Several large investors have recently made changes to their positions in PHIN. Larson Financial Group LLC increased its holdings in PHINIA by 151.5% in the 4th quarter. Larson Financial Group LLC now owns 425 shares of the company’s stock valued at $27,000 after buying an additional 256 shares during the period. Federation des caisses Desjardins du Quebec lifted its holdings in shares of PHINIA by 2,500.0% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 780 shares of the company’s stock worth $49,000 after buying an additional 750 shares in the last quarter. EverSource Wealth Advisors LLC raised its stake in PHINIA by 34.4% in the third quarter. EverSource Wealth Advisors LLC now owns 868 shares of the company’s stock valued at $50,000 after purchasing an additional 222 shares in the last quarter. MAI Capital Management grew its holdings in shares of PHINIA by 845.4% in the third quarter. MAI Capital Management now owns 917 shares of the company’s stock worth $53,000 after purchasing an additional 820 shares during the last quarter. Finally, State of Wyoming purchased a new position in PHINIA during the second quarter valued at $60,000. Institutional investors own 90.94% of the company’s stock.

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. 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.