Balyasny Asset Management L.P. Sells 175,453 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Balyasny Asset Management L.P. lessened its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 33.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 351,750 shares of the company’s stock after selling 175,453 shares during the period. Balyasny Asset Management L.P.’s holdings in Atmus Filtration Technologies were worth $13,782,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. LPL Financial LLC increased its stake in shares of Atmus Filtration Technologies by 3.3% during the fourth quarter. LPL Financial LLC now owns 10,102 shares of the company’s stock valued at $396,000 after buying an additional 326 shares during the period. Summit Investment Advisors Inc. raised its holdings in shares of Atmus Filtration Technologies by 3.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company’s stock valued at $343,000 after purchasing an additional 330 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of Atmus Filtration Technologies by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 28,712 shares of the company’s stock worth $1,125,000 after purchasing an additional 476 shares during the period. Jag Capital Management LLC boosted its stake in shares of Atmus Filtration Technologies by 8.1% during the fourth quarter. Jag Capital Management LLC now owns 7,653 shares of the company’s stock valued at $300,000 after purchasing an additional 571 shares in the last quarter. Finally, Geneos Wealth Management Inc. purchased a new position in Atmus Filtration Technologies during the fourth quarter valued at approximately $26,000. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Trading Up 2.4 %

ATMU stock opened at $36.43 on Friday. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. Atmus Filtration Technologies Inc. has a 52-week low of $27.62 and a 52-week high of $45.43. The company’s 50-day simple moving average is $35.58 and its 200-day simple moving average is $39.01. The firm has a market cap of $3.01 billion, a P/E ratio of 16.48, a PEG ratio of 3.99 and a beta of 1.81.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, May 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. The business had revenue of $110.50 million for the quarter, compared to analyst estimates of $424.03 million. During the same quarter last year, the business earned $0.60 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities analysts forecast 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 was paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.55%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio is currently 9.05%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ATMU. Wells Fargo & Company raised their price objective on Atmus Filtration Technologies from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday. Robert W. Baird cut their price objective on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a research report on Monday.

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.