Atmus Filtration Technologies Inc. (NYSE:ATMU) Shares Purchased by Entropy Technologies LP

Key Points

• Entropy Technologies LP increased its holdings in Atmus Filtration Technologies by 130.7%, acquiring an additional 22,022 shares, bringing its total to 38,868 shares valued at approximately $1.428 million.
• Atmus Filtration Technologies recently reported earnings of $0.75 per share, exceeding analysts' expectations of $0.66, with revenues of $453.50 million for the quarter, a 4.8% year-over-year increase.
• The company announced a quarterly dividend of $0.05 per share, equating to an annual dividend yield of 0.5% and a payout ratio of 8.85%.

Entropy Technologies LP boosted its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 130.7% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 38,868 shares of the company's stock after purchasing an additional 22,022 shares during the quarter. Entropy Technologies LP's holdings in Atmus Filtration Technologies were worth $1,428,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Teachers Retirement System of The State of Kentucky acquired a new position in Atmus Filtration Technologies in the first quarter valued at $876,000. SG Americas Securities LLC acquired a new position in Atmus Filtration Technologies in the first quarter valued at $324,000. Oppenheimer Asset Management Inc. grew its position in Atmus Filtration Technologies by 12.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,585 shares of the company's stock valued at $499,000 after acquiring an additional 1,482 shares during the period. Millennium Management LLC grew its position in Atmus Filtration Technologies by 91.1% during the fourth quarter. Millennium Management LLC now owns 186,912 shares of the company's stock valued at $7,323,000 after acquiring an additional 89,107 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in Atmus Filtration Technologies during the fourth quarter valued at about $260,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Robert W. Baird boosted their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a research report on Tuesday, May 27th. Wall Street Zen raised Atmus Filtration Technologies from a "hold" rating to a "strong-buy" rating in a research report on Saturday. Wells Fargo & Company boosted their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. boosted their price target 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. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Atmus Filtration Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Atmus Filtration Technologies Stock Down 3.8%

Shares of NYSE ATMU traded down $1.72 on Friday, hitting $43.46. The company had a trading volume of 1,219,938 shares, compared to its average volume of 795,476. Atmus Filtration Technologies Inc. has a 12-month low of $30.94 and a 12-month high of $45.92. The business has a 50 day moving average of $38.01 and a two-hundred day moving average of $37.39. The company has a quick ratio of 1.46, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The firm has a market capitalization of $3.57 billion, a P/E ratio of 19.23, a PEG ratio of 5.44 and a beta of 1.64.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%. The company had revenue of $453.50 million during the quarter, compared to the consensus estimate of $433.51 million. During the same quarter in the prior year, the business earned $0.71 earnings per share. The company's revenue was up 4.8% compared to the same quarter last year. As a group, equities research analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a $0.055 dividend. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio (DPR) is currently 9.73%.

Atmus Filtration Technologies Company 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.