Verition Fund Management LLC Purchases 264,594 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Verition Fund Management LLC increased its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 2,909.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 273,688 shares of the company’s stock after acquiring an additional 264,594 shares during the quarter. Verition Fund Management LLC’s holdings in Atmus Filtration Technologies were worth $10,272,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Atmus Filtration Technologies in the second quarter worth about $17,743,000. Eagle Asset Management Inc. bought a new position in Atmus Filtration Technologies in the 3rd quarter worth approximately $21,635,000. Davidson Kempner Capital Management LP acquired a new position in shares of Atmus Filtration Technologies during the second quarter worth approximately $15,475,000. Victory Capital Management Inc. boosted its position in shares of Atmus Filtration Technologies by 83.5% in the second quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company’s stock valued at $32,397,000 after acquiring an additional 512,390 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Atmus Filtration Technologies in the second quarter worth $14,281,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on ATMU shares. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their target price for the company from $42.00 to $45.00 in a research note on Monday, November 11th. 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 research report on Tuesday, November 12th. JPMorgan Chase & Co. upped their price target on 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 lifted their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Atmus Filtration Technologies currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $43.29 on Friday. The stock has a market cap of $3.60 billion, a P/E ratio of 20.13, a PEG ratio of 4.69 and a beta of 1.68. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. Atmus Filtration Technologies Inc. has a twelve month low of $21.09 and a twelve month high of $45.43. The company’s 50-day simple moving average is $40.25 and its 200 day simple moving average is $34.33.

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

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were paid a $0.05 dividend. The ex-dividend date 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 is presently 9.30%.

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.