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

Bank of New York Mellon Corp increased its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 72.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 528,398 shares of the company's stock after purchasing an additional 221,853 shares during the period. Bank of New York Mellon Corp owned approximately 0.64% of Atmus Filtration Technologies worth $20,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Glenmede Trust Co. NA grew its position in shares of Atmus Filtration Technologies by 0.7% in the third quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company's stock valued at $1,549,000 after purchasing an additional 303 shares during the period. Geneos Wealth Management Inc. acquired a new position in Atmus Filtration Technologies in the 4th quarter valued at about $26,000. KBC Group NV boosted its holdings in Atmus Filtration Technologies by 42.1% in the 3rd quarter. KBC Group NV now owns 2,424 shares of the company's stock valued at $91,000 after purchasing an additional 718 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Atmus Filtration Technologies by 333.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company's stock valued at $45,000 after acquiring an additional 876 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Atmus Filtration Technologies by 9.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 17,177 shares of the company's stock valued at $645,000 after acquiring an additional 1,442 shares during the period. Hedge funds and other institutional investors own 32.73% of the company's stock.

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Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. 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 note on Monday, February 24th. 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 note 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. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $43.00.

Atmus Filtration Technologies Stock Up 2.7 %

ATMU traded up $0.97 during trading hours on Friday, hitting $36.72. 1,180,485 shares of the company's stock were exchanged, compared to its average volume of 1,339,283. Atmus Filtration Technologies Inc. has a 12-month low of $25.51 and a 12-month high of $45.43. The firm has a 50 day moving average of $39.97 and a 200 day moving average of $39.41. The firm has a market cap of $3.04 billion, a P/E ratio of 16.62, a price-to-earnings-growth ratio of 3.99 and a beta of 1.83. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data 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 net margin of 11.12% and a return on equity of 120.81%. The company had revenue of $406.70 million for the quarter, compared to the consensus estimate of $399.24 million. Analysts predict that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.54%. The ex-dividend date of this dividend is Tuesday, March 4th. Atmus Filtration Technologies's payout ratio is 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.