Charter Oak Advisors LP Buys New Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Charter Oak Advisors LP acquired a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,464 shares of the company's stock, valued at approximately $2,604,000. Atmus Filtration Technologies accounts for approximately 1.5% of Charter Oak Advisors LP's holdings, making the stock its 12th largest holding. Charter Oak Advisors LP owned about 0.08% of Atmus Filtration Technologies at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. bought a new stake in Atmus Filtration Technologies in the fourth quarter valued at approximately $26,000. New Age Alpha Advisors LLC bought a new position in shares of Atmus Filtration Technologies during the fourth quarter valued at about $32,000. Nisa Investment Advisors LLC increased its position in shares of Atmus Filtration Technologies by 333.1% during the fourth 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 last quarter. Daiwa Securities Group Inc. raised its stake in shares of Atmus Filtration Technologies by 43.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,660 shares of the company's stock worth $104,000 after purchasing an additional 800 shares during the period. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Atmus Filtration Technologies during the 4th quarter valued at approximately $104,000. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Stock Down 4.2 %

Shares of NYSE ATMU traded down $1.39 during mid-day trading on Monday, reaching $32.00. 75,675 shares of the company were exchanged, compared to its average volume of 995,525. The stock has a market cap of $2.65 billion, a price-to-earnings ratio of 14.48, a P/E/G ratio of 3.99 and a beta of 1.78. The firm has a 50-day moving average of $36.85 and a 200 day moving average of $39.44. Atmus Filtration Technologies Inc. has a 1 year low of $25.48 and a 1 year high of $45.43. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its earnings results on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $406.70 million during the quarter, compared to analysts' expectations of $399.24 million. On average, research analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The business 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 annualized dividend and a dividend yield of 0.63%. Atmus Filtration Technologies's dividend payout ratio is presently 9.05%.

Analysts Set New Price Targets

Several analysts have issued reports on the stock. JPMorgan Chase & Co. lowered their target price on shares of Atmus Filtration Technologies from $46.00 to $38.00 and set an "overweight" rating on the stock in a research note on Friday, April 11th. 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 decreased 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 report on Monday, February 24th.

Atmus Filtration Technologies Company 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.