Eagle Asset Management Inc. Invests $21.64 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Eagle Asset Management Inc. bought a new position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 576,481 shares of the company's stock, valued at approximately $21,635,000. Eagle Asset Management Inc. owned about 0.69% of Atmus Filtration Technologies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ATMU. ProShare Advisors LLC acquired a new position in Atmus Filtration Technologies during the first quarter worth $353,000. Vanguard Group Inc. lifted its stake in Atmus Filtration Technologies by 366.5% in 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. American International Group Inc. lifted its stake in Atmus Filtration Technologies by 408.4% in the 1st quarter. American International Group Inc. now owns 41,512 shares of the company's stock valued at $1,339,000 after purchasing an additional 33,347 shares during the last quarter. Quadrature Capital Ltd acquired a new position in Atmus Filtration Technologies during the first quarter worth approximately $969,000. Finally, Price T Rowe Associates Inc. MD raised its stake in Atmus Filtration Technologies by 38.7% in 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 buying an additional 583,078 shares during the period. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Stock Performance

ATMU stock traded up $0.73 during trading hours on Friday, hitting $44.50. 568,664 shares of the stock were exchanged, compared to its average volume of 842,490. Atmus Filtration Technologies Inc. has a 12 month low of $21.09 and a 12 month high of $44.66. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The firm has a market capitalization of $3.70 billion, a P/E ratio of 20.69, a P/E/G ratio of 4.76 and a beta of 1.68. The company has a 50-day simple moving average of $39.52 and a two-hundred day simple moving average of $33.85.

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

Atmus Filtration Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.30%.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ATMU. Wells Fargo & Company downgraded Atmus Filtration Technologies from an "overweight" rating to an "equal weight" rating and lifted their target price for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. lifted 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 increased their price objective on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an "outperform" rating in a research report on Tuesday, November 12th. Finally, Northland Securities lifted their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an "outperform" rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $44.80.

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.