Entropy Technologies LP Cuts Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Entropy Technologies LP trimmed its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 5.9% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 33,499 shares of the company’s stock after selling 2,100 shares during the period. Entropy Technologies LP’s holdings in Atmus Filtration Technologies were worth $1,257,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Atmus Filtration Technologies by 366.5% during the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock worth $260,601,000 after buying an additional 6,348,391 shares in the last quarter. Boston Partners purchased a new stake in Atmus Filtration Technologies in the 1st quarter valued at $27,102,000. Bayberry Capital Partners LP acquired a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at about $25,800,000. Renaissance Technologies LLC purchased a new stake in shares of Atmus Filtration Technologies in the second quarter valued at about $17,743,000. Finally, Price T Rowe Associates Inc. MD increased its position in Atmus Filtration Technologies by 38.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock worth $67,355,000 after purchasing an additional 583,078 shares during the last quarter. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

NYSE:ATMU opened at $43.57 on Thursday. Atmus Filtration Technologies Inc. has a 12 month low of $20.05 and a 12 month high of $44.66. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.30. The firm has a market capitalization of $3.62 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 4.79 and a beta of 1.68. The business’s fifty day moving average price is $38.02 and its 200 day moving average price is $33.15.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.52 earnings per share. On average, sell-side analysts anticipate that Atmus Filtration Technologies Inc. will post 2.37 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.46%. Atmus Filtration Technologies’s dividend payout ratio is currently 9.30%.

Analyst Ratings Changes

Several equities analysts have weighed in on the stock. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $42.00 to $45.00 in a report on Monday. 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 note on Friday, October 11th. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday. Finally, Northland Securities raised their target price on Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $44.80.

Insider Activity at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty acquired 5,849 shares of the company’s stock in a transaction on Friday, August 23rd. The shares were bought at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now owns 19,882 shares in the company, valued at $679,964.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.43% of the stock is owned by corporate insiders.

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.