Bank of New York Mellon Corp Sells 182,602 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Bank of New York Mellon Corp lessened its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 34.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 345,796 shares of the company's stock after selling 182,602 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.42% of Atmus Filtration Technologies worth $12,701,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. New Age Alpha Advisors LLC purchased a new stake in shares of Atmus Filtration Technologies during the fourth quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its position in shares of Atmus Filtration Technologies by 295.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock valued at $54,000 after acquiring an additional 1,022 shares during the last quarter. Quarry LP increased its position in shares of Atmus Filtration Technologies by 70.9% during the fourth quarter. Quarry LP now owns 1,993 shares of the company's stock valued at $78,000 after acquiring an additional 827 shares during the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Atmus Filtration Technologies during the fourth quarter valued at approximately $104,000. Finally, Wexford Capital LP purchased a new stake in shares of Atmus Filtration Technologies during the fourth quarter valued at approximately $242,000. Institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Stock Performance

Shares of NYSE ATMU traded down $0.24 during mid-day trading on Thursday, hitting $38.17. The company had a trading volume of 46,381 shares, compared to its average volume of 784,716. The company has a market capitalization of $3.16 billion, a price-to-earnings ratio of 17.32, a P/E/G ratio of 4.75 and a beta of 1.64. Atmus Filtration Technologies Inc. has a 1 year low of $29.07 and a 1 year 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 stock's 50-day moving average price is $36.91 and its 200-day moving average price is $37.51.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly 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 return on equity of 94.85% and a net margin of 11.14%. The company had revenue of $110.50 million during the quarter, compared to analysts' expectations of $424.03 million. During the same period in the previous year, the business earned $0.60 earnings per share. The firm's quarterly revenue was down 2.3% compared to the same quarter last year. On average, sell-side analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd 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, June 3rd. Atmus Filtration Technologies's payout ratio is 9.05%.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Wells Fargo & Company raised their target price on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. JPMorgan Chase & Co. raised their target price on Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Finally, The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price for the company. in a research report on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Atmus Filtration Technologies presently has an average rating of "Moderate Buy" and an average target price of $42.80.

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.