NEOS Investment Management LLC Invests $4.44 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

NEOS Investment Management LLC acquired a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) during the fourth quarter, according to its most recent 13F filing with the SEC. The fund acquired 113,332 shares of the company’s stock, valued at approximately $4,440,000.

Several other institutional investors have also added to or reduced their stakes in ATMU. Geneos Wealth Management Inc. bought a new stake in shares of Atmus Filtration Technologies in the fourth quarter valued at approximately $26,000. Nisa Investment Advisors LLC grew its stake in Atmus Filtration Technologies by 333.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock valued at $45,000 after buying an additional 876 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in Atmus Filtration Technologies by 43.0% during the 4th quarter. Daiwa Securities Group Inc. now owns 2,660 shares of the company’s stock valued at $104,000 after acquiring an additional 800 shares during the period. Harvest Fund Management Co. Ltd purchased a new stake in shares of Atmus Filtration Technologies during the fourth quarter worth $104,000. Finally, KBC Group NV boosted its holdings in shares of Atmus Filtration Technologies by 67.9% in the fourth quarter. KBC Group NV now owns 4,070 shares of the company’s stock worth $159,000 after acquiring an additional 1,646 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Stock Performance

NYSE:ATMU opened at $38.11 on Friday. Atmus Filtration Technologies Inc. has a twelve month low of $27.62 and a twelve month 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 stock has a market cap of $3.18 billion, a P/E ratio of 17.24, a PEG ratio of 3.99 and a beta of 1.83. The business’s 50-day moving average price is $39.54 and its two-hundred day moving average price is $39.66.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.53 by $0.05. The business had revenue of $406.70 million during the quarter, compared to analyst estimates of $399.24 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. As a group, equities analysts predict that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were paid a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 dividend on an annualized basis and a yield of 0.52%. Atmus Filtration Technologies’s dividend payout ratio is presently 9.05%.

Analyst Upgrades and Downgrades

ATMU has been the topic of a number of recent research reports. Wells Fargo & Company dropped their price objective on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Robert W. Baird lowered their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Atmus Filtration Technologies from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus target price of $42.80.

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.