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

Atmus Filtration Technologies Inc. (NYSE:ATMU) has been given a consensus recommendation of “Moderate Buy” by the six ratings firms that are covering the company, Marketbeat reports. Three investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $62.6667.

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

Atmus Filtration Technologies Trading Up 0.0%

Shares of Atmus Filtration Technologies stock opened at $51.65 on Friday. The company 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. The stock has a fifty day simple moving average of $50.39 and a 200 day simple moving average of $56.02. Atmus Filtration Technologies has a 12-month low of $37.22 and a 12-month high of $66.50. The company has a current ratio of 2.53, a quick ratio of 1.70 and a debt-to-equity ratio of 2.47.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results 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 net margin of 11.56% and a return on equity of 64.29%. The company had revenue of $477.50 million for the quarter, compared to analyst estimates of $474.41 million. During the same period last year, the firm earned $0.63 earnings per share. The firm’s revenue was up 14.6% on a year-over-year basis. On average, sell-side analysts anticipate that Atmus Filtration Technologies will post 2.97 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, May 26th. Atmus Filtration Technologies’s dividend payout ratio is currently 8.63%.

Insiders Place Their Bets

In other news, CEO Stephanie Disher sold 25,652 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total value of $1,160,753.00. Following the transaction, the chief executive officer owned 363,024 shares of the company’s stock, valued at approximately $16,426,836. This represents a 6.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gretchen R. Haggerty purchased 1,973 shares of the stock in a transaction on Tuesday, May 12th. The stock was acquired at an average cost of $55.74 per share, for a total transaction of $109,975.02. Following the acquisition, the director owned 25,741 shares in the company, valued at approximately $1,434,803.34. This represents a 8.30% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold a total of 36,240 shares of company stock worth $1,639,860 in the last ninety days. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several hedge funds have recently added to or reduced their stakes in the company. Boston Trust Walden Corp purchased a new position in Atmus Filtration Technologies in the 4th quarter worth $44,304,000. Arrowstreet Capital Limited Partnership boosted its position in Atmus Filtration Technologies by 193.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 999,548 shares of the company’s stock valued at $56,744,000 after buying an additional 659,357 shares during the period. First Trust Advisors LP boosted its position in Atmus Filtration Technologies by 39.5% during the fourth quarter. First Trust Advisors LP now owns 2,131,911 shares of the company’s stock valued at $110,668,000 after buying an additional 603,954 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Atmus Filtration Technologies by 14.6% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,677,884 shares of the company’s stock valued at $242,830,000 after buying an additional 596,553 shares during the last quarter. Finally, Invesco Ltd. grew its stake in shares of Atmus Filtration Technologies by 22.7% during the fourth quarter. Invesco Ltd. now owns 2,728,470 shares of the company’s stock valued at $141,635,000 after buying an additional 504,647 shares during the last quarter. Institutional investors own 32.73% of the company’s stock.

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.