Atmus Filtration Technologies Inc. $ATMU Stock Sold by State of Wyoming

State of Wyoming cut its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 64.1% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,469 shares of the company’s stock after selling 11,529 shares during the quarter. State of Wyoming’s holdings in Atmus Filtration Technologies were worth $281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. BlackRock Inc. bought a new stake in shares of Atmus Filtration Technologies in the second quarter valued at about $631,617,000. First Trust Advisors LP increased its holdings in shares of Atmus Filtration Technologies by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,202,816 shares of the company’s stock valued at $125,054,000 after acquiring an additional 70,905 shares during the period. Jupiter Topco LLC purchased a new position in shares of Atmus Filtration Technologies in the 2nd quarter valued at $83,249,000. Janus Henderson Group PLC raised its position in shares of Atmus Filtration Technologies by 13.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,551,117 shares of the company’s stock worth $88,104,000 after acquiring an additional 181,792 shares in the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Atmus Filtration Technologies by 4.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,445,763 shares of the company’s stock worth $73,719,000 after acquiring an additional 59,342 shares in the last quarter. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, Director Stephen E. Macadam acquired 2,000 shares of the stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the acquisition, the director owned 40,588 shares in the company, valued at approximately $2,020,470.64. This represents a 5.18% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Renee Swan sold 3,870 shares of the business’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $50.89, for a total value of $196,944.30. Following the sale, the insider owned 46,875 shares of the company’s stock, valued at approximately $2,385,468.75. This trade represents a 7.63% decrease in their ownership of the stock. 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. Company insiders own 0.43% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ATMU. Weiss Ratings raised shares of Atmus Filtration Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. decreased their price objective on Atmus Filtration Technologies from $67.00 to $54.00 and set an “overweight” rating for the company in a report on Thursday, October 8th. Finally, Wells Fargo & Company assumed coverage on Atmus Filtration Technologies in a research report on Monday, August 3rd. They issued an “equal weight” rating and a $56.00 price objective for the company. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $57.67.

Atmus Filtration Technologies Trading Down 3.5%

Shares of NYSE:ATMU opened at $46.14 on Friday. Atmus Filtration Technologies Inc. has a 12-month low of $40.75 and a 12-month high of $66.50. The company has a market capitalization of $3.77 billion, a PE ratio of 17.68, a PEG ratio of 2.01 and a beta of 1.17. The business has a 50 day moving average of $45.30 and a two-hundred day moving average of $52.91. The company has a current ratio of 2.65, a quick ratio of 1.83 and a debt-to-equity ratio of 2.18.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, August 7th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.78 by $0.04. Atmus Filtration Technologies had a net margin of 11.32% and a return on equity of 59.85%. The firm had revenue of $527.90 million during the quarter, compared to analyst estimates of $507.02 million. During the same period in the previous year, the firm earned $0.75 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, analysts forecast that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current year.

Atmus Filtration Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Thursday, August 27th were paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Thursday, August 27th. This is a positive change from Atmus Filtration Technologies’s previous quarterly dividend of $0.0550. Atmus Filtration Technologies’s dividend payout ratio is currently 9.20%.

Atmus Filtration Technologies Profile

Atmus Filtration Technologies Inc (NYSE: ATMU) is a filtration products and solutions company serving the commercial vehicle, industrial, agriculture, construction, mining and power-generation markets. The company develops and manufactures filtration technologies designed to protect engines, equipment and other critical systems while supporting performance and maintenance requirements.

Atmus’s product portfolio includes air, fuel, lube and hydraulic filtration products, as well as solutions for emissions control, crankcase ventilation and coolant management.