Comerica Bank Raises Holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Comerica Bank raised its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 118.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 42,522 shares of the company's stock after buying an additional 23,052 shares during the quarter. Comerica Bank owned about 0.05% of Atmus Filtration Technologies worth $1,666,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atmus Filtration Technologies in the fourth quarter worth about $63,949,000. Invesco Ltd. increased its stake in shares of Atmus Filtration Technologies by 806.1% in the fourth quarter. Invesco Ltd. now owns 1,167,382 shares of the company's stock worth $45,738,000 after acquiring an additional 1,038,541 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Atmus Filtration Technologies during the fourth quarter worth $26,152,000. Assenagon Asset Management S.A. acquired a new stake in Atmus Filtration Technologies during the 4th quarter worth about $14,877,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Atmus Filtration Technologies by 2,022.7% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 336,783 shares of the company's stock valued at $13,195,000 after buying an additional 320,917 shares during the last quarter. Hedge funds and other institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Price Performance

Shares of NYSE:ATMU traded down $0.39 during midday trading on Friday, hitting $38.17. The company's stock had a trading volume of 230,282 shares, compared to its average volume of 900,249. The company has a market cap of $3.15 billion, a P/E ratio of 17.27, a price-to-earnings-growth ratio of 3.99 and a beta of 1.81. Atmus Filtration Technologies Inc. has a 12-month low of $27.62 and a 12-month high of $45.43. The business's 50 day simple moving average is $35.66 and its 200 day simple moving average is $38.97. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its earnings results on Friday, May 2nd. The company reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The business had revenue of $110.50 million for the quarter, compared to analysts' expectations of $424.03 million. During the same period in the previous year, the firm posted $0.60 EPS. The business's revenue for the quarter was down 2.3% compared to the same quarter last year. On average, analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed 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 yield of 0.52%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies's payout ratio is currently 9.05%.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATMU. Robert W. Baird dropped 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 upped their price target on Atmus Filtration Technologies from $35.00 to $37.00 and gave the stock an "equal weight" rating in a report on Monday, May 5th. Finally, JPMorgan Chase & Co. boosted their price objective on Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, May 5th.

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.