Atmus Filtration Technologies (NYSE:ATMU) Upgraded to “Hold” at Wells Fargo & Company

Atmus Filtration Technologies (NYSE:ATMU) was upgraded by stock analysts at Wells Fargo & Company to a “hold” rating in a report issued on Monday,Zacks.com reports.

Several other research analysts have also recently weighed in on ATMU. JPMorgan Chase & Co. lowered their price objective on Atmus Filtration Technologies from $70.00 to $67.00 and set an “overweight” rating on the stock in a research report on Monday, May 4th. 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. Zacks Research downgraded shares of Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. Robert W. Baird lowered their price target on shares of 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. Finally, Wall Street Zen cut shares of Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $62.00.

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU opened at $53.87 on Monday. The firm has a market cap of $4.40 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19. The business’s 50 day moving average is $50.49 and its 200-day moving average is $56.01. 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 1-year low of $37.22 and a 1-year high of $66.50.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business had revenue of $477.50 million during the quarter, compared to the consensus estimate of $474.41 million. During the same period in the previous year, the company posted $0.63 EPS. The firm’s quarterly revenue was up 14.6% on a year-over-year basis. Equities research analysts predict that Atmus Filtration Technologies will post 2.97 earnings per share for the current year.

Insider Activity

In other news, insider Renee Swan sold 2,566 shares of the company’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.25, for a total transaction of $116,111.50. Following the completion of the sale, the insider directly owned 50,745 shares in the company, valued at approximately $2,296,211.25. This represents a 4.81% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Charles Masters sold 2,890 shares of the stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.25, for a total value of $130,772.50. Following the sale, the senior vice president directly owned 43,579 shares in the company, valued at approximately $1,971,949.75. This trade represents a 6.22% decrease in their ownership of the stock. 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. Over the last 90 days, insiders have sold 36,240 shares of company stock worth $1,639,860. 0.43% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several institutional investors and hedge funds have recently bought and sold shares of the company. Jones Financial Companies Lllp raised its position in shares of Atmus Filtration Technologies by 143.1% in the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after buying an additional 412 shares in the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Atmus Filtration Technologies during the 4th quarter worth approximately $37,000. GHP Investment Advisors Inc. acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $44,000. PNC Financial Services Group Inc. boosted its position in shares of Atmus Filtration Technologies by 87.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 849 shares of the company’s stock worth $44,000 after acquiring an additional 397 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its position in shares of Atmus Filtration Technologies by 1,498.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 959 shares of the company’s stock worth $50,000 after acquiring an additional 899 shares in 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.