The Manufacturers Life Insurance Company Acquires 272,890 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

The Manufacturers Life Insurance Company lifted its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 27.5% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 1,266,648 shares of the company’s stock after purchasing an additional 272,890 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Atmus Filtration Technologies were worth $47,537,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Quarry LP bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter worth about $29,000. GAMMA Investing LLC grew its holdings in shares of Atmus Filtration Technologies by 89.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after purchasing an additional 774 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter worth about $68,000. KBC Group NV grew its holdings in shares of Atmus Filtration Technologies by 42.1% in the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after purchasing an additional 718 shares during the last quarter. Finally, nVerses Capital LLC bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter worth about $115,000. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $43.06 on Friday. 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 Inc. has a 1 year low of $21.09 and a 1 year high of $45.43. The company has a market cap of $3.58 billion, a PE ratio of 20.03, a PEG ratio of 4.80 and a beta of 1.68. The company’s 50-day moving average is $40.12 and its two-hundred day moving average is $34.22.

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

Atmus Filtration Technologies Announces Dividend

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

Wall Street Analysts Forecast Growth

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

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.