Beaconlight Capital LLC Acquires 252,770 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Beaconlight Capital LLC lifted its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 488.2% during the third quarter, Holdings Channel.com reports. The fund owned 304,548 shares of the company’s stock after acquiring an additional 252,770 shares during the period. Atmus Filtration Technologies accounts for approximately 4.7% of Beaconlight Capital LLC’s holdings, making the stock its 8th biggest holding. Beaconlight Capital LLC’s holdings in Atmus Filtration Technologies were worth $11,430,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of ATMU. Vanguard Group Inc. grew its position in Atmus Filtration Technologies by 366.5% during the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock worth $260,601,000 after purchasing an additional 6,348,391 shares during the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Atmus Filtration Technologies by 38.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock valued at $67,355,000 after acquiring an additional 583,078 shares during the period. American Century Companies Inc. raised its stake in Atmus Filtration Technologies by 2.8% in the 2nd quarter. American Century Companies Inc. now owns 1,981,937 shares of the company’s stock worth $57,040,000 after acquiring an additional 54,051 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Atmus Filtration Technologies by 27.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company’s stock worth $47,537,000 after acquiring an additional 272,890 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in Atmus Filtration Technologies by 26.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company’s stock valued at $43,290,000 after purchasing an additional 242,718 shares during the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ATMU. Robert W. Baird lifted their target price on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Northland Securities raised their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $42.00 to $45.00 in a report on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Atmus Filtration Technologies has a consensus rating of “Moderate Buy” and an average target price of $44.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU stock traded down $0.35 during mid-day trading on Wednesday, hitting $43.72. 712,987 shares of the stock were exchanged, compared to its average volume of 856,079. The company has a market cap of $3.63 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 4.80 and a beta of 1.68. Atmus Filtration Technologies Inc. has a 52-week low of $21.09 and a 52-week high of $45.43. 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 firm has a fifty day moving average of $39.85 and a 200 day moving average of $34.09.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same period in the previous year, the business earned $0.52 earnings per share. The business’s revenue was up 2.0% compared to the same quarter last year. Research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were given a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.46%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.30%.

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.