Jacobs Levy Equity Management Inc. Sells 176,836 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Jacobs Levy Equity Management Inc. lowered its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 7.6% in the 3rd quarter, Holdings Channel reports. The firm owned 2,163,762 shares of the company’s stock after selling 176,836 shares during the quarter. Jacobs Levy Equity Management Inc.’s holdings in Atmus Filtration Technologies were worth $81,206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ATMU. Thrivent Financial for Lutherans grew its holdings in Atmus Filtration Technologies by 854.0% in the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock worth $5,346,000 after purchasing an additional 166,274 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in shares of Atmus Filtration Technologies during the second quarter worth about $15,475,000. Algert Global LLC increased its stake in shares of Atmus Filtration Technologies by 516.7% during the third 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 in the last quarter. Hsbc Holdings PLC purchased a new stake in Atmus Filtration Technologies during the 2nd quarter valued at about $1,396,000. Finally, Gabelli Funds LLC acquired a new position in Atmus Filtration Technologies in the 2nd quarter valued at about $561,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Stock Up 0.9 %

ATMU stock opened at $43.66 on Tuesday. 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 fifty-two week low of $21.09 and a fifty-two week high of $45.43. The firm’s 50-day simple moving average is $40.39 and its 200 day simple moving average is $34.45. The stock has a market cap of $3.63 billion, a PE ratio of 20.31, a price-to-earnings-growth ratio of 4.71 and a beta of 1.69.

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

Atmus Filtration Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were paid 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 dividend payout ratio is currently 9.30%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the company from $42.00 to $45.00 in a research report on Monday, November 11th. Robert W. Baird boosted 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 note on Tuesday, November 12th. Northland Securities boosted their price objective 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. Finally, 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. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $44.80.

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.