Algert Global LLC Increases Stock Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Algert Global LLC boosted its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 516.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 161,513 shares of the company’s stock after acquiring an additional 135,325 shares during the period. Algert Global LLC owned about 0.19% of Atmus Filtration Technologies worth $6,062,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Atmus Filtration Technologies during the second quarter worth $29,000. GAMMA Investing LLC raised its position in Atmus Filtration Technologies by 89.3% during the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after acquiring an additional 774 shares during the period. Rothschild Investment LLC acquired a new position in Atmus Filtration Technologies during the second quarter worth $68,000. KBC Group NV raised its position in Atmus Filtration Technologies by 42.1% during the third quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after acquiring an additional 718 shares during the period. Finally, nVerses Capital LLC acquired a new position in Atmus Filtration Technologies during the second quarter worth $115,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock opened at $44.50 on Friday. Atmus Filtration Technologies Inc. has a 12-month low of $21.09 and a 12-month high of $44.66. The stock has a market cap of $3.70 billion, a P/E ratio of 20.69, a PEG ratio of 4.76 and a beta of 1.68. The company has a 50-day moving average price of $39.52 and a 200 day moving average price of $33.85. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same period last year, the business earned $0.52 earnings per share. Atmus Filtration Technologies’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is currently 9.30%.

Analysts Set New Price Targets

ATMU has been the subject of a number of research analyst reports. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their price objective for the stock from $42.00 to $45.00 in a research report on Monday, November 11th. Northland Securities increased their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird increased their target price on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $44.80.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.