Jag Capital Management LLC Raises Stock Position in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Jag Capital Management LLC raised its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 8.1% during the fourth quarter, Holdings Channel reports. The firm owned 7,653 shares of the company’s stock after buying an additional 571 shares during the quarter. Jag Capital Management LLC’s holdings in Atmus Filtration Technologies were worth $300,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Geneos Wealth Management Inc. purchased a new stake in shares of Atmus Filtration Technologies in the 4th quarter worth about $26,000. Nisa Investment Advisors LLC grew its position in shares of Atmus Filtration Technologies by 333.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock worth $45,000 after buying an additional 876 shares during the period. KBC Group NV grew its position in shares of Atmus Filtration Technologies by 42.1% in the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after buying an additional 718 shares during the period. Ieq Capital LLC purchased a new stake in shares of Atmus Filtration Technologies in the 4th quarter worth about $242,000. Finally, Prospera Financial Services Inc purchased a new stake in shares of Atmus Filtration Technologies in the 3rd quarter worth about $246,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Stock Performance

Shares of Atmus Filtration Technologies stock opened at $38.13 on Tuesday. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 17.25, a PEG ratio of 3.99 and a beta of 1.80. The firm’s 50-day moving average is $40.28 and its 200 day moving average is $39.29. Atmus Filtration Technologies Inc. has a 1 year low of $22.81 and a 1 year 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.

Atmus Filtration Technologies (NYSE:ATMU) last posted its 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. The business had revenue of $406.70 million for the quarter, compared to analysts’ expectations of $399.24 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. Sell-side analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date is Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio is currently 9.05%.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Wells Fargo & Company reduced their target price on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Northland Securities upped their price target on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird dropped their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research note on Monday, February 24th. One 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.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $43.00.

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.