Norges Bank Invests $8.84 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Norges Bank bought a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 225,601 shares of the company's stock, valued at approximately $8,839,000. Norges Bank owned 0.27% of Atmus Filtration Technologies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. LPL Financial LLC grew its holdings in shares of Atmus Filtration Technologies by 3.3% during the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company's stock worth $396,000 after purchasing an additional 326 shares in the last quarter. Jag Capital Management LLC lifted its position in Atmus Filtration Technologies by 8.1% during the fourth quarter. Jag Capital Management LLC now owns 7,653 shares of the company's stock worth $300,000 after purchasing an additional 571 shares during the period. Geneos Wealth Management Inc. acquired a new stake in Atmus Filtration Technologies during the fourth quarter worth about $26,000. Daiwa Securities Group Inc. increased its holdings in Atmus Filtration Technologies by 43.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,660 shares of the company's stock valued at $104,000 after buying an additional 800 shares during the period. Finally, Nisa Investment Advisors LLC raised its position 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 buying an additional 876 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ATMU. JPMorgan Chase & Co. decreased their price objective 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. Robert W. Baird decreased their price target on 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. Finally, Wells Fargo & Company dropped their price objective on Atmus Filtration Technologies from $40.00 to $39.00 and set an "equal weight" rating for the company in a research report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $41.20.

Atmus Filtration Technologies Price Performance

ATMU traded down $0.52 on Friday, reaching $33.10. The stock had a trading volume of 1,027,634 shares, compared to its average volume of 1,026,230. 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 company has a market capitalization of $2.74 billion, a price-to-earnings ratio of 14.98, a price-to-earnings-growth ratio of 3.99 and a beta of 1.78. Atmus Filtration Technologies Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $45.43. The firm has a 50-day moving average of $37.59 and a 200-day moving average of $39.56.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The company had revenue of $406.70 million during the quarter, compared to the consensus estimate of $399.24 million. As a group, sell-side analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The firm 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 0.60%. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.05%.

Atmus Filtration Technologies 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.