Palliser Capital UK Ltd Acquires New Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Palliser Capital UK Ltd bought a new position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 55,700 shares of the company’s stock, valued at approximately $2,090,000. Atmus Filtration Technologies accounts for 1.4% of Palliser Capital UK Ltd’s portfolio, making the stock its 11th largest holding. Palliser Capital UK Ltd owned 0.07% of Atmus Filtration Technologies at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in ATMU. abrdn plc grew its position in shares of Atmus Filtration Technologies by 32.5% during the third quarter. abrdn plc now owns 725,732 shares of the company’s stock worth $27,237,000 after purchasing an additional 178,074 shares in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in shares of Atmus Filtration Technologies by 4.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock worth $535,000 after buying an additional 626 shares in the last quarter. Riverwater Partners LLC purchased a new position in shares of Atmus Filtration Technologies in the third quarter worth $1,885,000. Prentiss Smith & Co. Inc. bought a new position in shares of Atmus Filtration Technologies during the third quarter worth $4,044,000. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of 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. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Insider Activity at Atmus Filtration Technologies

In related news, Director Stephen E. Macadam acquired 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $31.56 per share, with a total value of $260,370.00. Following the transaction, the director now directly owns 32,083 shares of the company’s stock, valued at $1,012,539.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Stephen E. Macadam purchased 8,250 shares of the stock in a transaction on Wednesday, August 7th. The stock was bought at an average price of $31.56 per share, with a total value of $260,370.00. Following the transaction, the director now owns 32,083 shares in the company, valued at $1,012,539.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gretchen R. Haggerty acquired 5,849 shares of the business’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the completion of the acquisition, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by corporate insiders.

Atmus Filtration Technologies Stock Up 0.2 %

Shares of Atmus Filtration Technologies stock opened at $39.00 on Friday. Atmus Filtration Technologies Inc. has a 1 year low of $18.61 and a 1 year high of $40.29. The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. The stock has a market cap of $3.25 billion, a price-to-earnings ratio of 18.75, a PEG ratio of 4.45 and a beta of 1.75. The firm’s 50-day moving average is $37.07 and its two-hundred day moving average is $32.63.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings data on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. The company had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.63 earnings per share. As a group, research analysts expect that Atmus Filtration Technologies Inc. will post 2.34 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 13th. Investors of record on Thursday, October 31st will be paid a dividend of $0.05 per share. The ex-dividend date is Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.62%.

Analysts Set New Price Targets

ATMU has been the topic of a number of recent research reports. Robert W. Baird upped their price target on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company upped their target price on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. JPMorgan Chase & Co. increased their price target 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. Finally, Northland Securities upped their price objective on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.80.

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.