Allspring Global Investments Holdings LLC Increases Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Allspring Global Investments Holdings LLC increased its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 99.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 973,246 shares of the company’s stock after purchasing an additional 484,420 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Atmus Filtration Technologies were worth $31,387,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Investment Research & Advisory Group Inc. bought a new stake in Atmus Filtration Technologies in the first quarter worth about $26,000. GAMMA Investing LLC boosted its holdings in Atmus Filtration Technologies by 103.8% during the 1st quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock valued at $28,000 after acquiring an additional 442 shares during the period. CVA Family Office LLC bought a new position in Atmus Filtration Technologies in the 1st quarter valued at $85,000. Tower Research Capital LLC TRC increased its stake in Atmus Filtration Technologies by 273.5% in the fourth quarter. Tower Research Capital LLC TRC now owns 3,933 shares of the company’s stock worth $92,000 after purchasing an additional 2,880 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of Atmus Filtration Technologies during the fourth quarter worth $119,000. 32.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the stock. Northland Securities upgraded shares of Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Wednesday, March 20th. Wells Fargo & Company dropped their target price on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Robert W. Baird lifted their price target on shares of Atmus Filtration Technologies from $29.00 to $37.00 and gave the company an “outperform” rating in a research note on Wednesday, April 17th. The Goldman Sachs Group increased their price objective on Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research note on Tuesday, April 16th. Finally, JPMorgan Chase & Co. lifted their target price on Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a research report on Monday, April 15th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Atmus Filtration Technologies currently has a consensus rating of “Buy” and an average target price of $35.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU opened at $28.48 on Friday. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.27 and a current ratio of 2.00. The company has a 50 day moving average price of $29.48 and a 200-day moving average price of $26.95. Atmus Filtration Technologies Inc. has a fifty-two week low of $18.21 and a fifty-two week high of $33.70. The stock has a market capitalization of $2.37 billion, a PE ratio of 14.53, a PEG ratio of 3.42 and a beta of 1.76.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, May 3rd. The company reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. The company had revenue of $426.60 million during the quarter, compared to analyst estimates of $416.18 million. Atmus Filtration Technologies had a return on equity of 314.52% and a net margin of 10.03%. The business’s quarterly revenue was up 1.9% on a year-over-year basis. Equities analysts predict that Atmus Filtration Technologies Inc. will post 2.26 earnings per share for the current fiscal year.

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.