Charter Oak Advisors LP Invests $2.60 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Charter Oak Advisors LP acquired a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU) during the 4th quarter, HoldingsChannel reports. The fund acquired 66,464 shares of the company’s stock, valued at approximately $2,604,000. Atmus Filtration Technologies comprises 1.5% of Charter Oak Advisors LP’s investment portfolio, making the stock its 12th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its holdings in Atmus Filtration Technologies by 8.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 286,098 shares of the company’s stock worth $10,737,000 after buying an additional 21,687 shares during the period. Norges Bank purchased a new stake in shares of Atmus Filtration Technologies during the fourth quarter worth $8,839,000. Assenagon Asset Management S.A. bought a new position in shares of Atmus Filtration Technologies in the fourth quarter worth $14,877,000. Geode Capital Management LLC grew its position in shares of Atmus Filtration Technologies by 2.1% in the third quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock valued at $71,123,000 after purchasing an additional 39,710 shares in the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Atmus Filtration Technologies during the 3rd quarter valued at $552,000. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

ATMU opened at $33.62 on Wednesday. The stock has a market capitalization of $2.78 billion, a P/E ratio of 15.21, a PEG ratio of 3.99 and a beta of 1.78. 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 12-month low of $27.62 and a 12-month high of $45.43. The stock has a 50-day moving average price of $37.31 and a 200-day moving average price of $39.51.

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

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.59%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.05%.

Wall Street Analyst Weigh In

Several research analysts have commented on ATMU shares. Wells Fargo & Company cut their target price on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. decreased their target price on shares of Atmus Filtration Technologies from $46.00 to $38.00 and set an “overweight” rating on the stock in a report on Friday, April 11th. Finally, Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $41.20.

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.