Tidal Investments LLC Buys Shares of 14,719 Atmus Filtration Technologies Inc. (NYSE:ATMU)

Tidal Investments LLC purchased a new position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) during the 3rd quarter, Holdings Channel reports. The institutional investor purchased 14,719 shares of the company’s stock, valued at approximately $552,000.

Other hedge funds have also recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in shares of Atmus Filtration Technologies by 854.0% during the 2nd quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock valued at $5,346,000 after purchasing an additional 166,274 shares during the period. Davidson Kempner Capital Management LP bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at about $15,475,000. Algert Global LLC grew its holdings in Atmus Filtration Technologies by 516.7% during the 3rd quarter. Algert Global LLC now owns 161,513 shares of the company’s stock valued at $6,062,000 after buying an additional 135,325 shares in the last quarter. Hsbc Holdings PLC purchased a new stake in Atmus Filtration Technologies during the second quarter valued at $1,396,000. Finally, Gabelli Funds LLC bought a new position in shares of Atmus Filtration Technologies in the 2nd quarter valued at about $561,000. Institutional investors own 32.73% of the company’s stock.

Analyst Upgrades and Downgrades

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

Atmus Filtration Technologies Stock Performance

Shares of NYSE:ATMU opened at $39.25 on Monday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11. The firm has a market cap of $3.26 billion, a PE ratio of 18.26, a price-to-earnings-growth ratio of 4.42 and a beta of 1.69. The firm’s 50 day simple moving average is $41.23 and its 200-day simple moving average is $35.54. Atmus Filtration Technologies Inc. has a one year low of $21.09 and a one year high of $45.43.

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, beating analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. During the same period in the previous year, the company posted $0.52 EPS. Atmus Filtration Technologies’s revenue was up 2.0% on a year-over-year basis. As a group, equities analysts predict that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio is presently 9.30%.

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.