Intech Investment Management LLC Invests $831,000 in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Intech Investment Management LLC purchased a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 22,137 shares of the company’s stock, valued at approximately $831,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Quarry LP bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter valued at approximately $29,000. GAMMA Investing LLC lifted its position in Atmus Filtration Technologies by 89.3% in the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after buying an additional 774 shares during the last quarter. Rothschild Investment LLC purchased a new position in Atmus Filtration Technologies during the second quarter worth $68,000. KBC Group NV increased 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 valued at $91,000 after acquiring an additional 718 shares during the last quarter. Finally, nVerses Capital LLC purchased a new stake in shares of Atmus Filtration Technologies in the second quarter valued at $115,000. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Down 1.5 %

Shares of NYSE ATMU opened at $43.06 on Friday. Atmus Filtration Technologies Inc. has a 52-week low of $21.09 and a 52-week high of $45.43. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of 20.03, a PEG ratio of 4.80 and a beta of 1.68. The stock has a 50 day moving average price of $40.12 and a 200 day moving average price of $34.22. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

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

Atmus Filtration Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were issued a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. Atmus Filtration Technologies’s dividend payout ratio is currently 9.30%.

Wall Street Analyst Weigh In

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

About Atmus Filtration Technologies

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.