Freestone Grove Partners LP Acquires Shares of 7,097 Atmus Filtration Technologies Inc. (NYSE:ATMU)

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

A number of other institutional investors have also made changes to their positions in the business. Price T Rowe Associates Inc. MD raised its position in shares of Atmus Filtration Technologies by 5.5% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,262,408 shares of the company's stock valued at $167,003,000 after purchasing an additional 223,712 shares during the period. T. Rowe Price Investment Management Inc. bought a new position in shares of Atmus Filtration Technologies during the fourth quarter worth approximately $63,949,000. The Manufacturers Life Insurance Company grew its holdings in Atmus Filtration Technologies by 3.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 1,306,748 shares of the company's stock valued at $51,198,000 after buying an additional 40,100 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in 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 valued at $48,968,000 after buying an additional 81,502 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Atmus Filtration Technologies by 806.1% during the fourth quarter. Invesco Ltd. now owns 1,167,382 shares of the company's stock worth $45,738,000 after buying an additional 1,038,541 shares in the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price objective 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. 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. Finally, Wells Fargo & Company lifted their price objective on Atmus Filtration Technologies from $35.00 to $37.00 and gave the company an "equal weight" rating in a report on Monday.

Atmus Filtration Technologies Trading Up 2.4 %

ATMU traded up $0.85 during trading on Thursday, reaching $36.43. 620,647 shares of the company's stock were exchanged, compared to its average volume of 905,706. The firm has a fifty day moving average price of $35.62 and a two-hundred day moving average price of $39.03. The stock has a market capitalization of $3.01 billion, a PE ratio of 16.48, a price-to-earnings-growth 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. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings results on Friday, May 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. The firm had revenue of $110.50 million during the quarter, compared to analyst estimates of $424.03 million. During the same quarter last year, the business earned $0.60 EPS. The company's revenue was down 2.3% 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were paid a dividend of $0.05 per share. 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 is currently 9.05%.

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.