Northern Trust Corp Boosts Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Northern Trust Corp raised its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 12.3% during the fourth quarter, HoldingsChannel.com reports. The firm owned 828,257 shares of the company’s stock after buying an additional 90,595 shares during the quarter. Northern Trust Corp’s holdings in Atmus Filtration Technologies were worth $32,451,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. T. Rowe Price Investment Management Inc. purchased a new position in Atmus Filtration Technologies in the fourth quarter valued at approximately $63,949,000. Invesco Ltd. lifted its holdings in shares of Atmus Filtration Technologies by 806.1% during the 4th quarter. Invesco Ltd. now owns 1,167,382 shares of the company’s stock valued at $45,738,000 after acquiring an additional 1,038,541 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in Atmus Filtration Technologies during the 4th quarter worth $26,152,000. Assenagon Asset Management S.A. purchased a new stake in Atmus Filtration Technologies during the 4th quarter worth $14,877,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Atmus Filtration Technologies by 2,022.7% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 336,783 shares of the company’s stock valued at $13,195,000 after purchasing an additional 320,917 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 have recently issued reports on ATMU shares. Robert W. Baird lowered their target price on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. Wells Fargo & Company lifted their price objective on shares of Atmus Filtration Technologies from $35.00 to $37.00 and gave the company an “equal weight” rating in a research note on Monday, May 5th. Finally, JPMorgan Chase & Co. upped their target price on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, May 5th.

Atmus Filtration Technologies Price Performance

ATMU stock opened at $36.27 on Friday. The stock’s 50 day moving average is $35.57 and its two-hundred day moving average is $39.00. Atmus Filtration Technologies Inc. has a 52-week low of $27.62 and a 52-week high of $45.43. The company has a market capitalization of $3.00 billion, a PE ratio of 16.41, a P/E/G ratio of 3.99 and a beta of 1.81. 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) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. The firm had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $424.03 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. The firm’s quarterly revenue was down 2.3% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 earnings per share. Analysts predict that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal 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 given 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 0.55%. Atmus Filtration Technologies’s payout ratio is 9.05%.

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.