Freestone Grove Partners LP Invests $278,000 in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Freestone Grove Partners LP purchased a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 7,097 shares of the company's stock, valued at approximately $278,000.

Other hedge funds have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD lifted its stake in Atmus Filtration Technologies by 5.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,262,408 shares of the company's stock worth $167,003,000 after purchasing an additional 223,712 shares during the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Atmus Filtration Technologies in the fourth quarter worth approximately $63,949,000. The Manufacturers Life Insurance Company grew its position in Atmus Filtration Technologies by 3.2% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,306,748 shares of the company's stock valued at $51,198,000 after acquiring an additional 40,100 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Atmus Filtration Technologies by 7.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,249,812 shares of the company's stock worth $48,968,000 after acquiring an additional 81,502 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Atmus Filtration Technologies by 806.1% in the 4th 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 last quarter. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. lifted their target price on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. Wells Fargo & Company boosted their target price on 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. Finally, Robert W. Baird reduced their price target on 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.

Atmus Filtration Technologies Trading Down 0.4 %

Shares of NYSE:ATMU traded down $0.15 during midday trading on Friday, hitting $36.27. 881,450 shares of the stock traded hands, compared to its average volume of 906,057. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The business's 50 day moving average is $35.57 and its two-hundred day moving average is $39.00. The stock has a market capitalization of $3.00 billion, a PE ratio of 16.41, a P/E/G ratio of 3.99 and a beta of 1.81. Atmus Filtration Technologies Inc. has a one year low of $27.62 and a one year high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings data 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 during the quarter, compared to analysts' expectations of $424.03 million. During the same quarter last year, the business posted $0.60 EPS. The business's revenue was down 2.3% on a year-over-year basis. As a group, research analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 annualized dividend and a yield of 0.55%. Atmus Filtration Technologies's dividend payout ratio (DPR) 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.