Massachusetts Financial Services Co. MA Acquires 81,502 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Massachusetts Financial Services Co. MA raised its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 7.0% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,249,812 shares of the company’s stock after purchasing an additional 81,502 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 1.50% of Atmus Filtration Technologies worth $48,968,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ATMU. Geneos Wealth Management Inc. bought a new position in shares of Atmus Filtration Technologies in the 4th quarter worth approximately $26,000. New Age Alpha Advisors LLC bought a new position in Atmus Filtration Technologies in the fourth quarter worth $32,000. Nisa Investment Advisors LLC lifted its position in Atmus Filtration Technologies by 333.1% during 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. Harvest Fund Management Co. Ltd bought a new stake in shares of Atmus Filtration Technologies during the 4th quarter valued at $104,000. Finally, Daiwa Securities Group Inc. grew its position in shares of Atmus Filtration Technologies by 43.0% in the 4th quarter. Daiwa Securities Group Inc. now owns 2,660 shares of the company’s stock worth $104,000 after buying an additional 800 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ATMU has been the subject of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. JPMorgan Chase & Co. increased their target price on Atmus Filtration Technologies from $44.00 to $46.00 and gave the company an “overweight” rating in a research note on Thursday, March 27th. Finally, Robert W. Baird lowered their price target on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and an average price target of $42.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU opened at $33.01 on Friday. The firm has a market cap of $2.75 billion, a PE ratio of 14.94, a P/E/G ratio of 3.99 and a beta of 1.78. Atmus Filtration Technologies Inc. has a 1-year low of $27.62 and a 1-year high of $45.43. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The firm has a fifty day simple moving average of $38.75 and a two-hundred day simple moving average of $39.75.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The firm had revenue of $406.70 million during the quarter, compared to analyst estimates of $399.24 million. On average, equities analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.61%. Atmus Filtration Technologies’s payout ratio is currently 9.05%.

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.