Bank of New York Mellon Corp Boosts Stock Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Bank of New York Mellon Corp boosted its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 72.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 528,398 shares of the company’s stock after acquiring an additional 221,853 shares during the quarter. Bank of New York Mellon Corp owned about 0.64% of Atmus Filtration Technologies worth $20,703,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Parsifal Capital Management LP increased its position in Atmus Filtration Technologies by 2.2% during the 3rd quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company’s stock worth $102,130,000 after purchasing an additional 58,478 shares during the period. Wellington Management Group LLP grew its holdings in Atmus Filtration Technologies by 1.7% during the third quarter. Wellington Management Group LLP now owns 2,517,338 shares of the company’s stock worth $94,476,000 after acquiring an additional 43,004 shares during the period. Geode Capital Management LLC raised its position in Atmus Filtration Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock worth $71,123,000 after acquiring an additional 39,710 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Atmus Filtration Technologies by 27.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company’s stock valued at $47,537,000 after acquiring an additional 272,890 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Atmus Filtration Technologies by 5.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 713,143 shares of the company’s stock worth $26,764,000 after purchasing an additional 39,114 shares in the last quarter. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts recently commented on the stock. Northland Securities raised their price objective on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, Wells Fargo & Company lowered their price target on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $43.00.

Atmus Filtration Technologies Stock Down 0.5 %

ATMU stock opened at $37.63 on Tuesday. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The company’s 50 day simple moving average is $40.11 and its 200-day simple moving average is $39.43. Atmus Filtration Technologies Inc. has a 12 month low of $23.36 and a 12 month high of $45.43. The firm has a market capitalization of $3.12 billion, a PE ratio of 17.03, a P/E/G ratio of 3.99 and a beta of 1.83.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, February 21st. The company reported $0.58 EPS for the quarter, beating 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 firm had revenue of $406.70 million for the quarter, compared to analysts’ expectations of $399.24 million. Equities analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be issued a $0.05 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.05%.

Atmus Filtration Technologies 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.