Palliser Capital UK Ltd Makes New $2.09 Million Investment in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Palliser Capital UK Ltd bought a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 55,700 shares of the company's stock, valued at approximately $2,090,000. Atmus Filtration Technologies accounts for about 1.4% of Palliser Capital UK Ltd's holdings, making the stock its 11th largest position. Palliser Capital UK Ltd owned 0.07% of Atmus Filtration Technologies at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in ATMU. Vanguard Group Inc. grew its stake in shares of Atmus Filtration Technologies by 366.5% during the first quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company's stock worth $260,601,000 after purchasing an additional 6,348,391 shares during the period. Boston Partners acquired a new stake in shares of Atmus Filtration Technologies during the first quarter worth $27,102,000. Bayberry Capital Partners LP acquired a new stake in shares of Atmus Filtration Technologies during the first quarter worth $25,800,000. Renaissance Technologies LLC acquired a new stake in shares of Atmus Filtration Technologies during the second quarter worth $17,743,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Atmus Filtration Technologies by 38.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company's stock worth $67,355,000 after purchasing an additional 583,078 shares during the period. 32.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Robert W. Baird boosted their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an "outperform" rating in a research note on Wednesday, October 16th. Northland Securities boosted their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an "outperform" rating in a research note on Tuesday, October 15th. Finally, Wells Fargo & Company boosted their target price on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Atmus Filtration Technologies presently has a consensus rating of "Buy" and a consensus price target of $42.80.

Atmus Filtration Technologies Trading Up 0.2 %

NYSE:ATMU traded up $0.06 on Friday, reaching $39.00. The company's stock had a trading volume of 574,965 shares, compared to its average volume of 1,868,849. Atmus Filtration Technologies Inc. has a 1-year low of $18.61 and a 1-year high of $40.29. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. The firm has a market cap of $3.25 billion, a PE ratio of 18.75, a PEG ratio of 4.45 and a beta of 1.75. The business's 50-day moving average price is $37.07 and its two-hundred day moving average price is $32.63.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.13. The company had revenue of $432.60 million for the quarter, compared to analyst estimates of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The company's quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.63 earnings per share. Equities research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.34 earnings per share for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $0.05 dividend. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. Atmus Filtration Technologies's dividend payout ratio (DPR) is 9.62%.

Insider Activity

In other news, Director Gretchen R. Haggerty purchased 5,849 shares of the business's stock in a transaction dated Friday, August 23rd. The shares were bought at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the completion of the acquisition, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stephen E. Macadam bought 8,250 shares of the company's stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $31.56 per share, for a total transaction of $260,370.00. Following the completion of the acquisition, the director now owns 32,083 shares of the company's stock, valued at approximately $1,012,539.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Gretchen R. Haggerty bought 5,849 shares of the company's stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $34.20 per share, for a total transaction of $200,035.80. Following the acquisition, the director now directly owns 19,882 shares of the company's stock, valued at $679,964.40. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.43% of the company's stock.

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.