Verdence Capital Advisors LLC Makes New Investment in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Verdence Capital Advisors LLC bought a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 12,962 shares of the company's stock, valued at approximately $476,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ATMU. Swiss National Bank boosted its stake in shares of Atmus Filtration Technologies by 0.7% during the 4th quarter. Swiss National Bank now owns 163,949 shares of the company's stock worth $6,424,000 after acquiring an additional 1,200 shares during the last quarter. Cibc World Markets Corp purchased a new position in shares of Atmus Filtration Technologies during the 4th quarter worth $307,000. Thrivent Financial for Lutherans boosted its stake in shares of Atmus Filtration Technologies by 126.6% during the 4th quarter. Thrivent Financial for Lutherans now owns 386,156 shares of the company's stock worth $15,130,000 after acquiring an additional 215,720 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Atmus Filtration Technologies by 99.7% during the 4th quarter. Intech Investment Management LLC now owns 44,210 shares of the company's stock worth $1,732,000 after acquiring an additional 22,073 shares during the last quarter. Finally, Xponance Inc. boosted its stake in shares of Atmus Filtration Technologies by 16.4% during the 4th quarter. Xponance Inc. now owns 6,434 shares of the company's stock worth $252,000 after acquiring an additional 907 shares during the last quarter. Hedge funds and other institutional investors own 32.73% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a research note on Monday, May 5th. The Goldman Sachs Group downgraded shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective on the stock. in a research report on Tuesday, May 27th. Finally, Wells Fargo & Company raised their price objective on shares of 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. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Atmus Filtration Technologies presently has a consensus rating of "Moderate Buy" and an average price target of $42.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU stock remained flat at $37.65 on Friday. 587,571 shares of the stock traded hands, compared to its average volume of 841,661. The stock has a market cap of $3.11 billion, a price-to-earnings ratio of 17.04, a price-to-earnings-growth ratio of 4.67 and a beta of 1.64. Atmus Filtration Technologies Inc. has a 12-month low of $29.07 and a 12-month high of $45.43. The business has a 50 day moving average price of $36.94 and a 200 day moving average price of $37.51. The company has a current ratio of 2.23, a quick ratio of 1.46 and a debt-to-equity ratio of 2.12.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.59 by $0.04. The company had revenue of $110.50 million for the quarter, compared to the consensus estimate of $424.03 million. Atmus Filtration Technologies had a net margin of 11.14% and a return on equity of 94.85%. Atmus Filtration Technologies's revenue for the quarter was down 2.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.60 EPS. Sell-side analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date of this dividend was Tuesday, June 3rd. Atmus Filtration Technologies's payout ratio is currently 9.05%.

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.