193,466 Shares in Atmus Filtration Technologies Inc. (NYSE:ATMU) Acquired by Watchtower Advisors LP

Watchtower Advisors LP purchased a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 193,466 shares of the company's stock, valued at approximately $7,261,000. Atmus Filtration Technologies comprises about 3.4% of Watchtower Advisors LP's investment portfolio, making the stock its 12th largest position. Watchtower Advisors LP owned 0.23% of Atmus Filtration Technologies as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Parsifal Capital Management LP boosted its stake in Atmus Filtration Technologies by 2.2% during the 3rd quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company's stock worth $102,130,000 after purchasing an additional 58,478 shares during the period. American Century Companies Inc. lifted its position in Atmus Filtration Technologies by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 1,981,937 shares of the company's stock worth $57,040,000 after acquiring an additional 54,051 shares during the period. The Manufacturers Life Insurance Company grew its position in Atmus Filtration Technologies by 27.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company's stock valued at $47,537,000 after buying an additional 272,890 shares during the last quarter. Allspring Global Investments Holdings LLC increased its stake in Atmus Filtration Technologies by 26.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company's stock valued at $43,290,000 after buying an additional 242,718 shares during the period. Finally, Victory Capital Management Inc. raised its position in Atmus Filtration Technologies by 83.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company's stock worth $32,397,000 after buying an additional 512,390 shares during the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. boosted their price target on shares of 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 $42.00 to $48.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. Wells Fargo & Company downgraded Atmus Filtration Technologies from an "overweight" rating to an "equal weight" rating and lifted their price target for the company from $42.00 to $45.00 in a research note on Monday, November 11th. Finally, Northland Securities increased their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an "outperform" rating in a research report on Tuesday, November 12th. 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 has a consensus rating of "Moderate Buy" and an average price target of $44.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU traded down $0.09 on Friday, reaching $42.64. The stock had a trading volume of 423,855 shares, compared to its average volume of 1,766,404. The firm has a 50-day moving average of $40.73 and a 200 day moving average of $34.66. The firm has a market capitalization of $3.54 billion, a PE ratio of 19.80, a PEG ratio of 4.67 and a beta of 1.69. Atmus Filtration Technologies Inc. has a twelve month low of $21.09 and a twelve month 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 released its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate 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%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.52 EPS. Sell-side analysts expect that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.47%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.30%.

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.