Okabena Investment Services Inc. Makes New $629,000 Investment in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Okabena Investment Services Inc. acquired a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 16,050 shares of the company’s stock, valued at approximately $629,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at $26,000. New Age Alpha Advisors LLC purchased a new position in Atmus Filtration Technologies in the fourth quarter valued at approximately $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 in the last quarter. Daiwa Securities Group Inc. grew its stake in Atmus Filtration Technologies by 43.0% during the fourth 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. Finally, Harvest Fund Management Co. Ltd acquired a new stake in shares of Atmus Filtration Technologies in the fourth quarter worth $104,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Atmus Filtration Technologies Stock Down 1.4 %

Shares of Atmus Filtration Technologies stock opened at $37.57 on Friday. The business has a 50-day moving average price of $39.45 and a 200 day moving average price of $39.69. Atmus Filtration Technologies Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $45.43. The firm has a market cap of $3.13 billion, a P/E ratio of 17.00, a P/E/G ratio of 3.99 and a beta of 1.83. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, February 21st. The company reported $0.58 earnings per share (EPS) for the quarter, beating 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 business had revenue of $406.70 million for the quarter, compared to analyst estimates of $399.24 million. On average, sell-side analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were paid a dividend of $0.05 per share. The ex-dividend date was Tuesday, March 4th. This represents a $0.20 annualized dividend and a yield of 0.53%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.05%.

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.