Atmus Filtration Technologies Inc. (NYSE:ATMU) Stock Holdings Raised by Beaconlight Capital LLC

Beaconlight Capital LLC grew its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 488.2% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 304,548 shares of the company’s stock after buying an additional 252,770 shares during the period. Atmus Filtration Technologies makes up 4.7% of Beaconlight Capital LLC’s portfolio, making the stock its 8th largest holding. Beaconlight Capital LLC owned approximately 0.37% of Atmus Filtration Technologies worth $11,430,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of Atmus Filtration Technologies by 366.5% during the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock valued at $260,601,000 after purchasing an additional 6,348,391 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in Atmus Filtration Technologies by 38.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock valued at $67,355,000 after acquiring an additional 583,078 shares during the last quarter. American Century Companies Inc. raised its stake in shares of Atmus Filtration Technologies by 2.8% in the second quarter. American Century Companies Inc. now owns 1,981,937 shares of the company’s stock valued at $57,040,000 after acquiring an additional 54,051 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Atmus Filtration Technologies by 27.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company’s stock worth $47,537,000 after acquiring an additional 272,890 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Atmus Filtration Technologies by 26.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company’s stock worth $43,290,000 after purchasing an additional 242,718 shares during the period. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Down 0.8 %

NYSE ATMU traded down $0.35 on Wednesday, reaching $43.72. 712,987 shares of the stock traded hands, compared to its average volume of 856,079. Atmus Filtration Technologies Inc. has a 12 month low of $21.09 and a 12 month high of $45.43. 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 company has a fifty day moving average price of $39.85 and a 200-day moving average price of $34.09. The company has a market cap of $3.63 billion, a price-to-earnings ratio of 20.33, a PEG ratio of 4.80 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results 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. The company had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. As a group, research analysts forecast that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

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

Analyst Upgrades and Downgrades

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

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.