Atmus Filtration Technologies Inc. (NYSE:ATMU) Position Reduced by Beaconlight Capital LLC

Beaconlight Capital LLC decreased its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 65.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 105,467 shares of the company's stock after selling 199,081 shares during the quarter. Atmus Filtration Technologies comprises about 1.5% of Beaconlight Capital LLC's investment portfolio, making the stock its 19th biggest position. Beaconlight Capital LLC owned about 0.13% of Atmus Filtration Technologies worth $4,132,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. acquired a new stake in shares of Atmus Filtration Technologies during the 4th quarter worth $26,000. New Age Alpha Advisors LLC acquired a new stake in Atmus Filtration Technologies during the fourth quarter worth about $32,000. Nisa Investment Advisors LLC raised its holdings 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 worth $45,000 after purchasing an additional 876 shares during the period. Tower Research Capital LLC TRC lifted its stake in shares of Atmus Filtration Technologies by 295.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock valued at $54,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Quarry LP grew its holdings in shares of Atmus Filtration Technologies by 70.9% during the 4th quarter. Quarry LP now owns 1,993 shares of the company's stock worth $78,000 after purchasing an additional 827 shares during the period. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an "outperform" rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company boosted their price target on Atmus Filtration Technologies from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report on Monday. Finally, JPMorgan Chase & Co. raised their target price on Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday.

Atmus Filtration Technologies Stock Down 0.1 %

ATMU traded down $0.02 during trading on Wednesday, hitting $35.60. The company had a trading volume of 475,413 shares, compared to its average volume of 910,822. The company has a market cap of $2.94 billion, a PE ratio of 16.11, a P/E/G ratio of 3.99 and a beta of 1.81. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. Atmus Filtration Technologies Inc. has a 1-year low of $27.62 and a 1-year high of $45.43. The business has a 50-day moving average of $35.70 and a 200-day moving average of $39.05.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.63 EPS for the quarter, topping the consensus estimate of $0.59 by $0.04. The business 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 company's quarterly revenue was down 2.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. As a group, analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.56%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies's dividend payout ratio is currently 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.