IHT Wealth Management LLC Purchases Shares of 7,037 Atmus Filtration Technologies Inc. (NYSE:ATMU)

IHT Wealth Management LLC acquired a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 7,037 shares of the company’s stock, valued at approximately $264,000.

Other hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans lifted its holdings in shares of Atmus Filtration Technologies by 854.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock valued at $5,346,000 after acquiring an additional 166,274 shares during the last quarter. Davidson Kempner Capital Management LP bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter valued at approximately $15,475,000. Algert Global LLC boosted its holdings in shares of Atmus Filtration Technologies by 516.7% in the 3rd quarter. Algert Global LLC now owns 161,513 shares of the company’s stock worth $6,062,000 after purchasing an additional 135,325 shares during the period. Hsbc Holdings PLC bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at approximately $1,396,000. Finally, Gabelli Funds LLC purchased a new stake in Atmus Filtration Technologies during the 2nd quarter valued at $561,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock opened at $40.78 on Wednesday. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 18.97, a price-to-earnings-growth ratio of 4.64 and a beta of 1.69. The firm has a 50-day moving average of $40.97 and a two-hundred day moving average of $34.96. Atmus Filtration Technologies Inc. has a 1 year low of $21.09 and a 1 year high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly 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. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, research analysts forecast that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is 9.30%.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and boosted their price objective for the company from $42.00 to $45.00 in a research report on Monday, November 11th. JPMorgan Chase & Co. upped 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. Northland Securities raised their price objective on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird upped their target price on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and an average price target 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.