Sei Investments Co. Boosts Stock Holdings in Atmus Filtration Technologies Inc. $ATMU

Sei Investments Co. lifted its position in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 60.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 164,150 shares of the company’s stock after acquiring an additional 62,018 shares during the quarter. Sei Investments Co.’s holdings in Atmus Filtration Technologies were worth $9,319,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aureus Asset Management LLC acquired a new position in shares of Atmus Filtration Technologies in the first quarter worth about $251,000. First Trust Advisors LP grew its position in shares of Atmus Filtration Technologies by 3.3% during 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. PNC Financial Services Group Inc. increased its stake in shares of Atmus Filtration Technologies by 52.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 1,295 shares of the company’s stock valued at $74,000 after purchasing an additional 446 shares in the last quarter. Convergence Investment Partners LLC purchased a new position in Atmus Filtration Technologies during the first quarter worth approximately $2,140,000. Finally, Meeder Asset Management Inc. purchased a new position in Atmus Filtration Technologies during the first quarter worth approximately $152,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Zacks Research cut Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a research report on Monday, April 6th. Wall Street Zen lowered Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. JPMorgan Chase & Co. dropped 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 research note on Monday, May 4th. Robert W. Baird cut 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 report on Monday, May 4th. Finally, Weiss Ratings cut shares of Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, Atmus Filtration Technologies has an average rating of “Moderate Buy” and an average price target of $62.67.

Atmus Filtration Technologies Price Performance

Shares of Atmus Filtration Technologies stock opened at $51.65 on Friday. The business has a 50 day simple moving average of $50.39 and a two-hundred day simple moving average of $56.02. Atmus Filtration Technologies Inc. has a 12 month low of $37.22 and a 12 month high of $66.50. The stock has a market capitalization of $4.22 billion, a P/E ratio of 20.25, a PEG ratio of 2.20 and a beta of 1.19. 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 (NYSE:ATMU) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $474.41 million. During the same period in the previous year, the company posted $0.63 earnings per share. The business’s revenue was up 14.6% on a year-over-year basis. As a group, analysts predict that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 26th were paid a $0.055 dividend. This represents a $0.22 annualized dividend and a 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%.

Insider Buying and Selling

In other news, insider Renee Swan sold 2,566 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.25, for a total value of $116,111.50. Following the completion of the sale, the insider directly owned 50,745 shares in the company, valued at $2,296,211.25. This represents a 4.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 firm’s stock in a transaction dated 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 completion of the purchase, the director owned 25,741 shares of the company’s stock, valued at approximately $1,434,803.34. This represents a 8.30% increase in their position. The SEC filing for this purchase provides additional information. Insiders have sold a total of 36,240 shares of company stock worth $1,639,860 in the last ninety days. Company insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Company Profile

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.