Assenagon Asset Management S.A. Raises Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Assenagon Asset Management S.A. grew its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 22.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 463,731 shares of the company's stock after buying an additional 84,025 shares during the period. Assenagon Asset Management S.A. owned 0.56% of Atmus Filtration Technologies worth $17,033,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ATMU. LPL Financial LLC boosted its stake in shares of Atmus Filtration Technologies by 3.3% during the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company's stock worth $396,000 after purchasing an additional 326 shares during the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Atmus Filtration Technologies by 3.9% in the fourth quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company's stock worth $343,000 after buying an additional 330 shares during the last quarter. Franklin Resources Inc. increased its stake in shares of Atmus Filtration Technologies by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 28,712 shares of the company's stock worth $1,125,000 after buying an additional 476 shares during the last quarter. Graham Capital Management L.P. increased its stake in Atmus Filtration Technologies by 1.9% during the fourth quarter. Graham Capital Management L.P. now owns 27,511 shares of the company's stock valued at $1,078,000 after purchasing an additional 511 shares during the last quarter. Finally, Jag Capital Management LLC increased its stake in Atmus Filtration Technologies by 8.1% during the fourth quarter. Jag Capital Management LLC now owns 7,653 shares of the company's stock valued at $300,000 after purchasing an additional 571 shares during the last quarter. Institutional investors and hedge funds own 32.73% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on ATMU. Robert W. Baird reduced their price objective on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an "outperform" rating for the company in a research report on Monday, February 24th. JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a report on Monday, May 5th. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a report on Tuesday, May 27th. Finally, Wells Fargo & Company lifted their target price 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. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $42.40.

Atmus Filtration Technologies Trading Down 2.7%

Shares of NYSE:ATMU traded down $0.97 during mid-day trading on Tuesday, reaching $35.25. The stock had a trading volume of 750,026 shares, compared to its average volume of 862,317. The firm has a 50 day simple moving average of $35.76 and a two-hundred day simple moving average of $38.08. Atmus Filtration Technologies Inc. has a twelve month low of $27.72 and a twelve month high of $45.43. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 2.12. The firm has a market cap of $2.91 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 4.52 and a beta of 1.71.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its earnings results on Friday, May 2nd. The company reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a net margin of 11.14% and a return on equity of 94.85%. The business had revenue of $110.50 million during the quarter, compared to analysts' expectations of $424.03 million. During the same period last year, the business earned $0.60 earnings per share. The firm's revenue was down 2.3% on a year-over-year basis. On average, research analysts predict that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.57%. The ex-dividend date of this dividend is Tuesday, June 3rd. Atmus Filtration Technologies's payout ratio is presently 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.