Arbor Wealth Advisors LLC Invests $654,000 in PHINIA Inc. (NYSE:PHIN)

Arbor Wealth Advisors LLC bought a new position in shares of PHINIA Inc. (NYSE:PHIN) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 21,581 shares of the company’s stock, valued at approximately $654,000. PHINIA makes up 0.7% of Arbor Wealth Advisors LLC’s holdings, making the stock its 25th largest position.

A number of other large investors have also modified their holdings of PHIN. AE Wealth Management LLC acquired a new stake in shares of PHINIA in the 3rd quarter worth approximately $797,000. IFP Advisors Inc acquired a new stake in shares of PHINIA in the 3rd quarter worth approximately $88,000. SG Americas Securities LLC acquired a new stake in shares of PHINIA in the 3rd quarter worth approximately $2,207,000. State of Alaska Department of Revenue acquired a new stake in shares of PHINIA in the 3rd quarter worth approximately $784,000. Finally, Rheos Capital Works Inc. acquired a new stake in shares of PHINIA in the 3rd quarter worth approximately $1,383,000. 90.94% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, Morgan Stanley initiated coverage on PHINIA in a report on Monday, March 11th. They issued an “overweight” rating and a $50.00 price target on the stock.

PHINIA Price Performance

NYSE:PHIN traded up $0.18 during trading hours on Tuesday, reaching $38.87. 502,880 shares of the company traded hands, compared to its average volume of 653,614. The firm’s 50-day moving average is $36.28 and its 200-day moving average is $30.83. The stock has a market cap of $1.80 billion and a P/E ratio of 8.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.68 and a quick ratio of 1.25. PHINIA Inc. has a 1-year low of $23.46 and a 1-year high of $40.12.

PHINIA (NYSE:PHIN) last announced its earnings results on Wednesday, February 21st. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.65 by $0.06. The company had revenue of $882.00 million for the quarter, compared to analyst estimates of $900.00 million. PHINIA’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $1.75 EPS. Equities research analysts expect that PHINIA Inc. will post 4.05 earnings per share for the current fiscal year.

PHINIA Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, February 26th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date was Friday, February 23rd. PHINIA’s dividend payout ratio is presently 20.58%.

PHINIA 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.