Atmus Filtration Technologies (NYSE:ATMU) Hits New 1-Year High – Here’s Why

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s stock price reached a new 52-week high on Wednesday . The company traded as high as $39.08 and last traded at $38.97, with a volume of 236714 shares trading hands. The stock had previously closed at $38.80.

Wall Street Analyst Weigh In

Several research firms have issued reports on ATMU. Wells Fargo & Company boosted their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday. Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $36.00 to $37.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research note on Friday. Five investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $38.80.

Atmus Filtration Technologies Price Performance

The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The stock has a market capitalization of $3.30 billion, a PE ratio of 19.04, a P/E/G ratio of 4.40 and a beta of 1.75. The stock’s 50-day moving average is $34.89 and its 200 day moving average is $31.84.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.13. The business had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. Atmus Filtration Technologies’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.63 earnings per share. As a group, equities analysts predict that Atmus Filtration Technologies Inc. will post 2.33 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were paid a $0.05 dividend. The ex-dividend date of this dividend was Thursday, August 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. Atmus Filtration Technologies’s payout ratio is 9.62%.

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty acquired 5,849 shares of Atmus Filtration Technologies stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average price of $34.20 per share, with a total value of $200,035.80. Following the purchase, the director now owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Stephen E. Macadam purchased 8,250 shares of the stock in a transaction on Wednesday, August 7th. The shares were bought at an average price of $31.56 per share, for a total transaction of $260,370.00. Following the completion of the acquisition, the director now directly owns 32,083 shares in the company, valued at approximately $1,012,539.48. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Gretchen R. Haggerty acquired 5,849 shares of Atmus Filtration Technologies stock in a transaction dated Friday, August 23rd. The stock was purchased at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the purchase, the director now directly owns 19,882 shares of the company’s stock, valued at $679,964.40. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.43% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP increased its position in Atmus Filtration Technologies by 7.9% in the 4th quarter. Wellington Management Group LLP now owns 828,045 shares of the company’s stock worth $19,451,000 after buying an additional 60,714 shares during the period. Nomura Holdings Inc. acquired a new position in Atmus Filtration Technologies during the 4th quarter valued at $2,764,000. ST Germain D J Co. Inc. bought a new stake in Atmus Filtration Technologies in the 1st quarter valued at $145,000. GAMMA Investing LLC boosted its holdings in Atmus Filtration Technologies by 103.8% in the 1st quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock valued at $28,000 after purchasing an additional 442 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Atmus Filtration Technologies in the 1st quarter worth $85,000. Institutional investors own 32.73% of the company’s stock.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.