Eminence Capital LP Increases Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Eminence Capital LP raised its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 79.0% in the 4th quarter, HoldingsChannel.com reports. The firm owned 4,592,614 shares of the company’s stock after acquiring an additional 2,027,617 shares during the period. Atmus Filtration Technologies comprises 2.8% of Eminence Capital LP’s holdings, making the stock its 12th largest position. Eminence Capital LP owned 0.06% of Atmus Filtration Technologies worth $179,939,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atmus Filtration Technologies during the fourth quarter valued at approximately $63,949,000. Invesco Ltd. boosted its holdings in Atmus Filtration Technologies by 806.1% in the fourth quarter. Invesco Ltd. now owns 1,167,382 shares of the company’s stock valued at $45,738,000 after acquiring an additional 1,038,541 shares in the last quarter. Raymond James Financial Inc. purchased a new position in Atmus Filtration Technologies during the 4th quarter valued at $26,152,000. Assenagon Asset Management S.A. bought a new position in Atmus Filtration Technologies in the 4th quarter worth $14,877,000. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Atmus Filtration Technologies by 2,022.7% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 336,783 shares of the company’s stock worth $13,195,000 after purchasing an additional 320,917 shares during the period. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Price Performance

Shares of ATMU opened at $35.66 on Wednesday. The firm’s 50-day simple moving average is $35.70 and its two-hundred day simple moving average is $39.05. Atmus Filtration Technologies Inc. has a fifty-two week low of $27.62 and a fifty-two week high of $45.43. The stock has a market cap of $2.95 billion, a PE ratio of 16.14, a price-to-earnings-growth ratio of 3.99 and a beta of 1.81. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, May 2nd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The company had revenue of $110.50 million during the quarter, compared to analyst estimates of $424.03 million. During the same quarter last year, the company earned $0.60 EPS. The firm’s revenue for the quarter was down 2.3% on a year-over-year basis. Analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.05%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on ATMU shares. Wells Fargo & Company increased their price target on shares of Atmus Filtration Technologies from $35.00 to $37.00 and gave the stock an “equal weight” rating in a research note on Monday. Robert W. Baird decreased their target price on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price target on Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday.

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.