Weiss Asset Management LP Reduces Stock Holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Weiss Asset Management LP cut its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 66.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 270,271 shares of the company's stock after selling 537,077 shares during the period. Weiss Asset Management LP owned 0.33% of Atmus Filtration Technologies worth $10,143,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Parsifal Capital Management LP increased its position in shares of Atmus Filtration Technologies by 2.2% during the third quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company's stock valued at $102,130,000 after buying an additional 58,478 shares during the period. American Century Companies Inc. increased its position in shares of Atmus Filtration Technologies by 2.8% during the second quarter. American Century Companies Inc. now owns 1,981,937 shares of the company's stock valued at $57,040,000 after buying an additional 54,051 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Atmus Filtration Technologies by 27.5% during 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 buying an additional 272,890 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of Atmus Filtration Technologies by 26.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company's stock valued at $43,290,000 after buying an additional 242,718 shares during the period. Finally, Victory Capital Management Inc. increased its position in shares of Atmus Filtration Technologies by 83.5% during the second quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company's stock valued at $32,397,000 after buying an additional 512,390 shares during the period. 32.73% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATMU. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an "overweight" rating to an "equal weight" rating and upped their price objective for the stock from $42.00 to $45.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upped their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an "overweight" rating in a research report on Friday, October 11th. Robert W. Baird upped 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 report on Tuesday, November 12th. Finally, Northland Securities upped 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 report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Atmus Filtration Technologies has an average rating of "Moderate Buy" and a consensus target price of $44.80.

Atmus Filtration Technologies Price Performance

NYSE ATMU traded up $0.04 on Friday, reaching $42.77. 273,211 shares of the company's stock traded hands, compared to its average volume of 1,766,296. 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 current ratio of 2.11 and a quick ratio of 1.35. The stock has a 50-day simple moving average of $40.73 and a 200 day simple moving average of $34.66. The stock has a market cap of $3.55 billion, a PE ratio of 19.80, a P/E/G ratio of 4.67 and a beta of 1.69.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating analysts' consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The business had revenue of $404.00 million for the quarter, compared to analysts' expectations of $403.40 million. During the same period last year, the business earned $0.52 earnings per share. The business's quarterly revenue was up 2.0% on a year-over-year basis. As a group, research analysts predict that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The business 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. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.47%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies's dividend payout ratio (DPR) 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.