Atmus Filtration Technologies (NYSE:ATMU) Rating Increased to Hold at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Atmus Filtration Technologies (NYSE:ATMU) to a hold rating in a research report sent to investors on Monday, MarketBeat Ratings reports. Wells Fargo & Company currently has $56.00 price target on the stock.

Other analysts have also recently issued research reports about 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. Robert W. Baird dropped their target price on Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating on the stock in a research report on Monday, May 4th. Weiss Ratings downgraded Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Wall Street Zen lowered shares of Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Finally, JPMorgan Chase & Co. lowered 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 note on Monday, May 4th. Three equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $62.00.

Atmus Filtration Technologies Trading Up 4.3%

NYSE:ATMU opened at $53.87 on Monday. 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 has a 12 month low of $37.22 and a 12 month high of $66.50. The company has a market cap of $4.40 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19. The company has a 50 day simple moving average of $50.49 and a two-hundred day simple moving average of $56.01.

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 the consensus estimate of $0.65 by $0.04. The firm had revenue of $477.50 million for the quarter, compared to analysts’ expectations of $474.41 million. Atmus Filtration Technologies had a return on equity of 64.29% and a net margin of 11.56%.The company’s revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.63 EPS. Research analysts forecast that Atmus Filtration Technologies will post 2.97 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

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

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, CFO Jack Kienzler sold 5,132 shares of the business’s stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $45.25, for a total transaction 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 approximately $3,430,131. The trade was a 6.34% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Atmus Filtration Technologies stock in a transaction on Tuesday, May 12th. The stock was bought at an average price of $55.74 per share, with a total value of $109,975.02. Following the transaction, 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 ownership of the stock. The disclosure for this purchase is available in the SEC filing. Insiders sold 36,240 shares of company stock valued at $1,639,860 in the last ninety days. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Atmus Filtration Technologies

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its holdings in 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 purchasing an additional 596,553 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Atmus Filtration Technologies by 5.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,200,311 shares of the company’s stock worth $166,128,000 after purchasing an additional 163,659 shares in the last quarter. Invesco Ltd. increased its stake in shares of Atmus Filtration Technologies by 22.7% in the fourth quarter. Invesco Ltd. now owns 2,728,470 shares of the company’s stock worth $141,635,000 after purchasing an additional 504,647 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Atmus Filtration Technologies by 2.3% in the fourth quarter. Geode Capital Management LLC now owns 2,428,684 shares of the company’s stock worth $126,088,000 after purchasing an additional 54,376 shares in the last quarter. Finally, First Trust Advisors LP raised 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 purchasing an additional 70,905 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

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.