The Manufacturers Life Insurance Company Decreases Stock Position in Atmus Filtration Technologies Inc. $ATMU

The Manufacturers Life Insurance Company cut its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 1.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 758,807 shares of the company’s stock after selling 10,920 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Atmus Filtration Technologies were worth $43,077,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Boston Trust Walden Corp purchased a new stake in shares of Atmus Filtration Technologies in the fourth quarter valued at $44,304,000. Arrowstreet Capital Limited Partnership raised its position in Atmus Filtration Technologies by 193.8% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 999,548 shares of the company’s stock worth $56,744,000 after purchasing an additional 659,357 shares during the period. First Trust Advisors LP raised its position in Atmus Filtration Technologies by 39.5% in the 4th quarter. First Trust Advisors LP now owns 2,131,911 shares of the company’s stock worth $110,668,000 after purchasing an additional 603,954 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Atmus Filtration Technologies by 14.6% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 4,677,884 shares of the company’s stock worth $242,830,000 after purchasing an additional 596,553 shares during the last quarter. Finally, Invesco Ltd. boosted its position in shares of Atmus Filtration Technologies by 22.7% during the fourth quarter. Invesco Ltd. now owns 2,728,470 shares of the company’s stock valued at $141,635,000 after buying an additional 504,647 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, SVP Charles Masters sold 2,890 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 value of $130,772.50. Following the completion of the sale, the senior vice president directly owned 43,579 shares in the company, valued at approximately $1,971,949.75. This represents a 6.22% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Renee Swan sold 2,566 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 $116,111.50. Following the transaction, the insider directly owned 50,745 shares in the company, valued at $2,296,211.25. The trade was a 4.81% 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. Insiders sold a total of 36,240 shares of company stock worth $1,639,860 over the last three months. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ATMU. Robert W. Baird cut their target price on Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating on the stock in a research note on Monday, May 4th. JPMorgan Chase & Co. dropped their price objective on Atmus Filtration Technologies from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Monday, May 4th. Zacks Research downgraded 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 note on Sunday, June 14th. Finally, Weiss Ratings downgraded Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, July 15th. Three investment 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.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus price target of $62.67.

Atmus Filtration Technologies Price Performance

Shares of ATMU stock opened at $51.70 on Friday. The company has a market capitalization of $4.22 billion, a P/E ratio of 20.27, a P/E/G ratio of 2.15 and a beta of 1.19. The company’s 50-day simple moving average is $50.34 and its two-hundred day simple moving average is $56.05. Atmus Filtration Technologies Inc. has a one year low of $37.22 and a one year high of $66.50. 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 posted 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 during the quarter, compared to the consensus estimate of $474.41 million. Atmus Filtration Technologies had a net margin of 11.56% and a return on equity of 64.29%. The company’s revenue was up 14.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.63 earnings per share. As a group, equities analysts anticipate that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current 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. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.22 annualized dividend and a yield of 0.4%. Atmus Filtration Technologies’s dividend payout ratio is 8.63%.

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.