Convergence Investment Partners LLC Increases Holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Convergence Investment Partners LLC grew its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 18.2% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 30,621 shares of the company’s stock after acquiring an additional 4,719 shares during the quarter. Convergence Investment Partners LLC’s holdings in Atmus Filtration Technologies were worth $1,200,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers raised its stake in Atmus Filtration Technologies by 2.1% during the 4th quarter. Rhumbline Advisers now owns 115,176 shares of the company’s stock worth $4,513,000 after acquiring an additional 2,375 shares in the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its position in shares of Atmus Filtration Technologies by 403.3% during the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 75,500 shares of the company’s stock worth $2,958,000 after purchasing an additional 60,500 shares in the last quarter. KBC Group NV lifted its holdings in shares of Atmus Filtration Technologies by 67.9% in the 4th quarter. KBC Group NV now owns 4,070 shares of the company’s stock valued at $159,000 after purchasing an additional 1,646 shares during the last quarter. Geneos Wealth Management Inc. acquired a new stake in shares of Atmus Filtration Technologies in the 4th quarter valued at about $26,000. Finally, Nisa Investment Advisors LLC grew its stake in Atmus Filtration Technologies by 333.1% during 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 last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU opened at $39.59 on Thursday. 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 company has a market cap of $3.29 billion, a PE ratio of 18.42, a P/E/G ratio of 4.26 and a beta of 1.80. The stock has a fifty day moving average price of $40.45 and a 200 day moving average price of $38.87. Atmus Filtration Technologies Inc. has a 1-year low of $22.30 and a 1-year high of $45.43.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. Atmus Filtration Technologies’s payout ratio is 9.30%.

Analysts Set New Price Targets

ATMU has been the topic of a number of research reports. Northland Securities raised their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price objective on shares of Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, January 7th. Finally, Robert W. Baird upped their target price on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $43.80.

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.