Atmus Filtration Technologies Inc. (NYSE:ATMU) Given Average Recommendation of “Moderate Buy” by Brokerages

Atmus Filtration Technologies Inc. (NYSE:ATMU) has earned a consensus recommendation of “Moderate Buy” from the six brokerages that are covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $62.6667.

Several research analysts recently commented on the stock. Zacks Research downgraded shares of Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Robert W. Baird dropped their price target on shares of Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating for the company in a research report on Monday, May 4th. Weiss Ratings lowered shares of Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 15th. Wall Street Zen lowered shares of Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a report on Sunday, June 14th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Atmus Filtration Technologies from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th.

Insiders Place Their Bets

In related news, CFO Jack Kienzler sold 5,132 shares of the firm’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.25, for a total value of $232,223.00. Following the completion of the sale, the chief financial officer owned 75,804 shares of the company’s stock, valued at $3,430,131. This trade represents a 6.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephanie Disher sold 25,652 shares of Atmus Filtration Technologies stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $1,160,753.00. Following the completion of the sale, the chief executive officer owned 363,024 shares in the company, valued at approximately $16,426,836. This trade represents a 6.60% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 36,240 shares of company stock worth $1,639,860. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Atmus Filtration Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,874 shares of the company’s stock worth $1,832,000 after purchasing an additional 2,176 shares in the last quarter. Millennium Management LLC boosted its stake in shares of Atmus Filtration Technologies by 17.5% during the 1st quarter. Millennium Management LLC now owns 219,639 shares of the company’s stock valued at $8,067,000 after purchasing an additional 32,727 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after purchasing an additional 412 shares in the last quarter. Caxton Associates LLP purchased a new position in shares of Atmus Filtration Technologies during the first quarter valued at about $283,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Atmus Filtration Technologies by 2.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,638 shares of the company’s stock valued at $5,864,000 after buying an additional 3,419 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

Shares of Atmus Filtration Technologies stock opened at $51.65 on Friday. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.53 and a quick ratio of 1.70. Atmus Filtration Technologies has a one year low of $37.22 and a one year high of $66.50. The business’s 50 day simple moving average is $50.39 and its two-hundred day simple moving average is $56.02. The stock has a market capitalization of $4.22 billion, a P/E ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, May 1st. The company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.65 by $0.04. Atmus Filtration Technologies had a return on equity of 64.29% and a net margin of 11.56%.The firm had revenue of $477.50 million during the quarter, compared to analyst estimates of $474.41 million. During the same quarter in the prior year, the firm posted $0.63 earnings per share. The business’s quarterly revenue was up 14.6% compared to the same quarter last year. Analysts forecast that Atmus Filtration Technologies will post 2.97 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 26th were paid a $0.055 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.22 annualized dividend and a dividend yield of 0.4%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 8.63%.

About Atmus Filtration Technologies

Atmus Filtration Technologies is a global developer and manufacturer of high-performance filter media and filtration solutions. The company designs and produces advanced materials that capture airborne particles across a range of applications, from heating, ventilation and air-conditioning (HVAC) systems to industrial and cleanroom environments. By focusing on proprietary meltblown and nanofiber technologies, Atmus delivers media that balances efficiency, airflow and durability for both original equipment manufacturers (OEMs) and aftermarket customers.

The company’s product portfolio encompasses pleated and panel filter media, depth filtration products and specialty laminates used in industries such as commercial buildings, healthcare, transportation and power generation.