Tidal Investments LLC Makes New Investment in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Tidal Investments LLC acquired a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 14,719 shares of the company’s stock, valued at approximately $552,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ATMU. Renaissance Technologies LLC purchased a new stake in Atmus Filtration Technologies in the 2nd quarter worth approximately $17,743,000. Eagle Asset Management Inc. bought a new position in shares of Atmus Filtration Technologies during the third quarter valued at approximately $21,635,000. Davidson Kempner Capital Management LP purchased a new stake in Atmus Filtration Technologies in the second quarter worth $15,475,000. Victory Capital Management Inc. boosted its stake in shares of Atmus Filtration Technologies by 83.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company’s stock valued at $32,397,000 after purchasing an additional 512,390 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Atmus Filtration Technologies during the 2nd quarter valued at approximately $14,281,000. 32.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the company. Robert W. Baird upped their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and increased their price target for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Northland Securities raised their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Price Performance

Shares of NYSE:ATMU opened at $39.25 on Monday. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11. The firm has a market cap of $3.26 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 4.42 and a beta of 1.69. The business has a 50-day simple moving average of $41.23 and a two-hundred day simple moving average of $35.54. Atmus Filtration Technologies Inc. has a fifty-two week low of $21.09 and a fifty-two week high of $45.43.

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 the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. During the same quarter last year, the company posted $0.52 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors 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 yield of 0.51%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) 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.