IHT Wealth Management LLC Takes Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

IHT Wealth Management LLC acquired a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU) in the third quarter, Holdings Channel reports. The fund acquired 7,037 shares of the company’s stock, valued at approximately $264,000.

A number of other hedge funds also recently bought and sold shares of the stock. Janus Henderson Group PLC raised its holdings in Atmus Filtration Technologies by 141.2% in the third quarter. Janus Henderson Group PLC now owns 89,741 shares of the company’s stock worth $3,366,000 after purchasing an additional 52,541 shares in the last quarter. HighTower Advisors LLC purchased a new position in shares of Atmus Filtration Technologies in the 3rd quarter worth approximately $408,000. Atom Investors LP raised its stake in shares of Atmus Filtration Technologies by 24.3% during the 3rd quarter. Atom Investors LP now owns 103,441 shares of the company’s stock worth $3,882,000 after acquiring an additional 20,201 shares in the last quarter. Verition Fund Management LLC lifted its position in Atmus Filtration Technologies by 2,909.5% during the third quarter. Verition Fund Management LLC now owns 273,688 shares of the company’s stock valued at $10,272,000 after acquiring an additional 264,594 shares during the last quarter. Finally, Captrust Financial Advisors acquired a new stake in Atmus Filtration Technologies in the third quarter valued at approximately $335,000. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Analysts Set New Price Targets

ATMU has been the subject of several analyst reports. Northland Securities increased their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Wells Fargo & Company downgraded 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, Robert W. Baird upped their price objective on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a report 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. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Stock Performance

Shares of ATMU opened at $40.78 on Wednesday. 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 stock has a 50-day moving average of $40.97 and a two-hundred day moving average of $34.96. The stock has a market cap of $3.39 billion, a P/E ratio of 18.97, a P/E/G ratio of 4.64 and a beta of 1.69. Atmus Filtration Technologies Inc. has a one year low of $21.09 and a one year high of $45.43.

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

Atmus Filtration Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.49%. Atmus Filtration Technologies’s payout ratio is currently 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.