Atmus Filtration Technologies (ATMU.N) shares up 3.4% at $59.61 early Mon as co poised to join S&amp;P SmallCap 600 index (.SPCY) later this week ATMU to replace Air Lease Corp (AL.N) in SPCY prior to market open on Thurs, Apr 9, S&amp;P Dow Jones Indices said late Thurs A consortium of investors led by Sumitomo Corp (8053.T) and SMBC Aviation Capital expected to soon complete acquisition of aircraft lessor AL in $7.4 bln deal
Stephens analyst Melissa Roberts said in a note she anticipates passive funds will need to purchase 11 mln ATMU shares, implying roughly 14 days of buying demand
Nashville, Tennessee-based co has ~81.7 mln shares outstanding for ~$4.7 bln market cap
Shares of the maker of advanced filtration systems primarily under the Fleetguard brand, protecting heavy-duty engines and equipment, now up about 15% YTD and roughly 80% over the past 12 months
4 of 5 analysts rate the shares “strong buy” or “buy”, 1 “hold”; median PT $69.50, per LSEG data (Lance Tupper is a Reuters market analyst. The views expressed are his own)

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BUZZ-Atmus Filtration rises as co set to join S&P SmallCap index