Cornerstone Wealth Management LLC Sells 259 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Cornerstone Wealth Management LLC decreased its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 3.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,416 shares of the company’s stock after selling 259 shares during the period. Cornerstone Wealth Management LLC’s holdings in Atmus Filtration Technologies were worth $330,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Quarry LP acquired a new position in shares of Atmus Filtration Technologies in the 2nd quarter valued at $29,000. Nisa Investment Advisors LLC lifted its stake in Atmus Filtration Technologies by 333.1% in the fourth quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock valued at $45,000 after buying an additional 876 shares during the period. GAMMA Investing LLC boosted its holdings in Atmus Filtration Technologies by 89.3% during the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after buying an additional 774 shares during the last quarter. KBC Group NV grew its position in shares of Atmus Filtration Technologies by 42.1% during the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after buying an additional 718 shares during the period. Finally, Prospera Financial Services Inc bought a new stake in shares of Atmus Filtration Technologies in the 3rd quarter valued at about $246,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Performance

Shares of Atmus Filtration Technologies stock opened at $42.96 on Monday. The stock’s 50-day moving average is $41.18 and its 200-day moving average is $37.61. Atmus Filtration Technologies Inc. has a one year low of $21.09 and a one year high of $45.43. The firm has a market cap of $3.57 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 4.53 and a beta of 1.80. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities analysts predict that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently weighed in on ATMU. Wells Fargo & Company reduced their price objective on shares of Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird lifted 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 report on Tuesday, November 12th. 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 report on Friday, October 11th. Finally, Northland Securities raised their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $43.80.

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.