Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 34.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,028 shares of the company’s stock after purchasing an additional 5,851 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Atmus Filtration Technologies were worth $902,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. AlphaQuest LLC purchased a new stake in Atmus Filtration Technologies in the fourth quarter valued at approximately $502,000. Raymond James Financial Inc. bought a new position in Atmus Filtration Technologies during the fourth quarter valued at approximately $26,152,000. Jag Capital Management LLC grew its position in Atmus Filtration Technologies by 8.1% during the fourth quarter. Jag Capital Management LLC now owns 7,653 shares of the company’s stock valued at $300,000 after acquiring an additional 571 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Atmus Filtration Technologies by 5.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 753,495 shares of the company’s stock valued at $29,522,000 after acquiring an additional 40,352 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Atmus Filtration Technologies by 72.4% during the fourth quarter. Bank of New York Mellon Corp now owns 528,398 shares of the company’s stock valued at $20,703,000 after acquiring an additional 221,853 shares during the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ATMU shares. Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $44.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Wells Fargo & Company reduced their price target on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of “Moderate Buy” and a consensus price target of $42.40.

Atmus Filtration Technologies Stock Down 0.8 %

Shares of Atmus Filtration Technologies stock opened at $38.36 on Friday. 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 Inc. has a 52-week low of $27.54 and a 52-week high of $45.43. The stock has a market capitalization of $3.18 billion, a price-to-earnings ratio of 17.36, a P/E/G ratio of 3.99 and a beta of 1.83. The company’s 50 day moving average price is $39.79 and its 200-day moving average price is $39.51.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, February 21st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The company had revenue of $406.70 million during the quarter, compared to analyst estimates of $399.24 million. Equities research analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies’s payout ratio is 9.05%.

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.