Wellington Management Group LLP Sells 569,699 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Wellington Management Group LLP reduced its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 22.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 1,947,639 shares of the company's stock after selling 569,699 shares during the period. Wellington Management Group LLP owned approximately 2.34% of Atmus Filtration Technologies worth $76,308,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Raymond James Financial Inc. purchased a new position in Atmus Filtration Technologies in the 4th quarter worth approximately $26,152,000. Assenagon Asset Management S.A. acquired a new stake in Atmus Filtration Technologies in the 4th quarter valued at approximately $14,877,000. Arrowstreet Capital Limited Partnership increased its holdings in Atmus Filtration Technologies by 2,022.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 336,783 shares of the company's stock valued at $13,195,000 after purchasing an additional 320,917 shares during the last quarter. Norges Bank acquired a new position in shares of Atmus Filtration Technologies in the fourth quarter worth $8,839,000. Finally, Bank of New York Mellon Corp grew its stake in shares of Atmus Filtration Technologies by 72.4% in the fourth quarter. Bank of New York Mellon Corp now owns 528,398 shares of the company's stock worth $20,703,000 after acquiring an additional 221,853 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ATMU. Wells Fargo & Company lowered their target price on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Atmus Filtration Technologies from $44.00 to $46.00 and gave the stock an "overweight" rating in a report on Thursday, March 27th. Finally, Robert W. Baird lowered their target price 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. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Atmus Filtration Technologies presently has an average rating of "Moderate Buy" and a consensus target price of $42.80.

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Atmus Filtration Technologies Stock Performance

Shares of NYSE:ATMU traded down $1.58 during trading on Thursday, reaching $33.98. 205,397 shares of the company's stock traded hands, compared to its average volume of 1,027,365. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. Atmus Filtration Technologies Inc. has a 12 month low of $27.62 and a 12 month high of $45.43. The company has a 50 day moving average of $37.90 and a 200-day moving average of $39.61. The stock has a market capitalization of $2.81 billion, a P/E ratio of 15.36, a price-to-earnings-growth ratio of 3.99 and a beta of 1.78.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its earnings results on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.05. The firm had revenue of $406.70 million during the quarter, compared to analyst estimates of $399.24 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. On average, equities analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. Atmus Filtration Technologies's dividend payout ratio is currently 9.05%.

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.