Clearline Capital LP Sells 96,836 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Clearline Capital LP decreased its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 33.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 192,249 shares of the company’s stock after selling 96,836 shares during the period. Clearline Capital LP owned approximately 0.23% of Atmus Filtration Technologies worth $7,215,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ATMU. Thrivent Financial for Lutherans grew its stake in Atmus Filtration Technologies by 854.0% in the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock valued at $5,346,000 after acquiring an additional 166,274 shares during the period. Davidson Kempner Capital Management LP bought a new stake in shares of Atmus Filtration Technologies in the second quarter valued at about $15,475,000. Algert Global LLC lifted its holdings in shares of Atmus Filtration Technologies by 516.7% in the third quarter. Algert Global LLC now owns 161,513 shares of the company’s stock valued at $6,062,000 after purchasing an additional 135,325 shares in the last quarter. Hsbc Holdings PLC acquired a new position in shares of Atmus Filtration Technologies during the second quarter worth about $1,396,000. Finally, Gabelli Funds LLC bought a new position in shares of Atmus Filtration Technologies during the second quarter worth about $561,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Wall Street Analysts Forecast Growth

ATMU has been the subject of a number of recent research reports. JPMorgan Chase & Co. upped their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Northland Securities raised their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. Robert W. Baird boosted their price target on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Wells Fargo & Company downgraded shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and increased their price objective for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $44.80.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $43.29 on Monday. Atmus Filtration Technologies Inc. has a 1 year low of $21.09 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 market capitalization of $3.60 billion, a P/E ratio of 20.13, a price-to-earnings-growth ratio of 4.71 and a beta of 1.68. The firm’s fifty day moving average price is $40.25 and its two-hundred day moving average price is $34.36.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same period in the prior year, the firm earned $0.52 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were given a dividend of $0.05 per share. 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 0.46%. Atmus Filtration Technologies’s payout ratio is presently 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.