VIRGINIA RETIREMENT SYSTEMS ET Al increased its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU – Free Report) by 366.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,200 shares of the company’s stock after purchasing an additional 19,800 shares during the quarter. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Atmus Filtration Technologies were worth $1,094,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of the stock. BlackRock Inc. acquired a new stake in Atmus Filtration Technologies in the 2nd quarter valued at about $631,617,000. Jupiter Topco LLC acquired a new position in shares of Atmus Filtration Technologies during the second quarter worth about $83,249,000. Port Capital LLC acquired a new position in shares of Atmus Filtration Technologies during the second quarter worth about $52,739,000. The Manufacturers Life Insurance Company acquired a new position in shares of Atmus Filtration Technologies during the second quarter worth about $39,152,000. Finally, Arrowstreet Capital Limited Partnership increased its stake in shares of Atmus Filtration Technologies by 193.8% during the first quarter. Arrowstreet Capital Limited Partnership now owns 999,548 shares of the company’s stock worth $56,744,000 after buying an additional 659,357 shares during the period. Hedge funds and other institutional investors own 32.73% of the company’s stock.
Atmus Filtration Technologies Trading Down 3.5%
NYSE:ATMU opened at $46.14 on Friday. Atmus Filtration Technologies Inc. has a 1 year low of $40.75 and a 1 year high of $66.50. The stock has a market cap of $3.77 billion, a P/E ratio of 17.68, a P/E/G ratio of 2.01 and a beta of 1.17. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.83 and a current ratio of 2.65. The stock has a 50-day simple moving average of $45.30 and a 200-day simple moving average of $52.91.
Atmus Filtration Technologies (NYSE:ATMU – Get Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.04. The firm had revenue of $527.90 million during the quarter, compared to analysts’ expectations of $507.02 million. Atmus Filtration Technologies had a return on equity of 59.85% and a net margin of 11.32%. The firm’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.75 earnings per share. As a group, analysts anticipate that Atmus Filtration Technologies Inc. will post 2.97 earnings per share for the current fiscal year.
Atmus Filtration Technologies Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Shareholders of record on Thursday, August 27th were paid a $0.06 dividend. This is an increase from Atmus Filtration Technologies’s previous quarterly dividend of $0.0550. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 27th. Atmus Filtration Technologies’s payout ratio is currently 9.20%.
Insider Buying and Selling
In related news, Director Stephen E. Macadam acquired 2,000 shares of the business’s stock in a transaction on Wednesday, August 12th. The shares were bought at an average price of $49.78 per share, with a total value of $99,560.00. Following the completion of the acquisition, the director owned 40,588 shares in the company, valued at $2,020,470.64. This trade represents a 5.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 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 transaction of $196,944.30. Following the sale, the insider owned 46,875 shares of the company’s stock, valued at $2,385,468.75. This represents a 7.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several analysts recently weighed in on ATMU shares. Wells Fargo & Company started coverage on shares of Atmus Filtration Technologies in a report on Monday, August 3rd. They issued an “equal weight” rating and a $56.00 target price on the stock. JPMorgan Chase & Co. lowered their price target on shares of 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, Weiss Ratings upgraded shares of Atmus Filtration Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $57.67.
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.
Featured Stories
- Five stocks we like better than Atmus Filtration Technologies
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
Want to see what other hedge funds are holding ATMU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atmus Filtration Technologies Inc. (NYSE:ATMU – Free Report).
Receive News & Ratings for Atmus Filtration Technologies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Atmus Filtration Technologies and related companies with MarketBeat.com's FREE daily email newsletter.
