Hotchkis & Wiley Capital Management LLC Has $27.64 Million Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Hotchkis & Wiley Capital Management LLC lowered its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 34.6% in the third quarter, Holdings Channel reports. The firm owned 736,490 shares of the company’s stock after selling 390,060 shares during the period. Hotchkis & Wiley Capital Management LLC’s holdings in Atmus Filtration Technologies were worth $27,640,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Renaissance Technologies LLC acquired a new position in shares of Atmus Filtration Technologies during the 2nd quarter worth about $17,743,000. Eagle Asset Management Inc. acquired a new stake in shares of Atmus Filtration Technologies in the third quarter worth $21,635,000. Davidson Kempner Capital Management LP bought a new position in Atmus Filtration Technologies during the second quarter worth $15,475,000. Victory Capital Management Inc. boosted its holdings in Atmus Filtration Technologies by 83.5% in the 2nd quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company’s stock valued at $32,397,000 after purchasing an additional 512,390 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Atmus Filtration Technologies in the 2nd quarter worth $14,281,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $42.86 on Wednesday. Atmus Filtration Technologies Inc. has a 52-week low of $21.09 and a 52-week high of $45.43. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The stock has a fifty day moving average price of $40.50 and a two-hundred day moving average price of $34.54. The firm has a market capitalization of $3.56 billion, a P/E ratio of 19.93, a P/E/G ratio of 4.75 and a beta of 1.69.

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

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were given a $0.05 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.47%. Atmus Filtration Technologies’s payout ratio is 9.30%.

Analyst Ratings Changes

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

Atmus Filtration Technologies Company 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.