Franklin Resources Inc. Sells 297,667 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Franklin Resources Inc. decreased its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 91.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,236 shares of the company’s stock after selling 297,667 shares during the period. Franklin Resources Inc.’s holdings in Atmus Filtration Technologies were worth $1,114,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its stake 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 purchasing an additional 166,274 shares in the last quarter. Davidson Kempner Capital Management LP bought a new stake in Atmus Filtration Technologies in the second quarter worth $15,475,000. Algert Global LLC grew 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 valued at $6,062,000 after buying an additional 135,325 shares during the last quarter. Hsbc Holdings PLC purchased a new position in shares of Atmus Filtration Technologies in the second quarter worth about $1,396,000. Finally, Gabelli Funds LLC bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter valued at about $561,000. Institutional investors own 32.73% of the company’s stock.

Analyst Upgrades and Downgrades

ATMU has been the topic of a number of analyst reports. Robert W. Baird lifted 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. Northland Securities lifted their target price 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. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $45.00 in a report on Monday, November 11th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $44.80.

Atmus Filtration Technologies Stock Performance

Shares of ATMU stock opened at $38.69 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The stock has a fifty day moving average of $41.18 and a 200 day moving average of $35.84. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 4.42 and a beta of 1.69. Atmus Filtration Technologies Inc. has a 52 week low of $21.09 and a 52 week high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last posted 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. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same period last year, the company posted $0.52 EPS. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts expect 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 announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were issued a dividend of $0.05 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 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.