Boston Partners Invests $27.10 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Boston Partners purchased a new position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 843,012 shares of the company’s stock, valued at approximately $27,102,000.

A number of other hedge funds have also bought and sold shares of ATMU. Vanguard Group Inc. increased its position in Atmus Filtration Technologies by 366.5% during the first quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock worth $260,601,000 after acquiring an additional 6,348,391 shares during the period. Bayberry Capital Partners LP bought a new position in Atmus Filtration Technologies in the 1st quarter valued at about $25,800,000. Caas Capital Management LP bought a new position in Atmus Filtration Technologies in the 1st quarter valued at about $19,841,000. Price T Rowe Associates Inc. MD increased its holdings in Atmus Filtration Technologies by 38.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock valued at $67,355,000 after buying an additional 583,078 shares during the period. Finally, Wolf Hill Capital Management LP bought a new position in Atmus Filtration Technologies in the 1st quarter valued at about $16,125,000. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Price Performance

Shares of ATMU traded up $0.93 during mid-day trading on Friday, reaching $30.91. The company had a trading volume of 2,804,018 shares, compared to its average volume of 1,169,488. The company’s 50 day simple moving average is $29.39 and its 200 day simple moving average is $27.98. Atmus Filtration Technologies Inc. has a 1-year low of $18.21 and a 1-year high of $33.70. 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 market capitalization of $2.58 billion, a price-to-earnings ratio of 15.77, a P/E/G ratio of 3.67 and a beta of 1.74.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. The company had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. During the same period last year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 4.6% compared to the same quarter last year. Analysts expect that Atmus Filtration Technologies Inc. will post 2.26 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Thursday, August 1st will be given a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, August 1st. This represents a $0.20 annualized dividend and a yield of 0.65%. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

Wall Street Analysts Forecast Growth

ATMU has been the topic of several recent analyst reports. Wells Fargo & Company decreased 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 report on Monday, May 6th. JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the company an “overweight” rating in a report on Monday, April 15th. Robert W. Baird decreased their target price on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “outperform” rating on the stock in a report on Friday, July 19th. Finally, The Goldman Sachs Group raised their target price on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a report on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $35.60.

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.