Atmus Filtration Technologies (NYSE:ATMU) Sets New 1-Year Low After Analyst Downgrade

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares reached a new 52-week low during trading on Thursday after JPMorgan Chase & Co. lowered their price target on the stock from $67.00 to $54.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Atmus Filtration Technologies traded as low as $42.25 and last traded at $41.9650, with a volume of 113,589 shares changing hands. The stock had previously closed at $44.12.

Other research analysts have also recently issued research reports about the company. Wells Fargo & Company started coverage on Atmus Filtration Technologies in a research note on Monday, August 3rd. They issued an “equal weight” rating and a $56.00 price target for the company. 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. Finally, Weiss Ratings downgraded shares of Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, August 25th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Insider Buying and Selling

In other news, Director Stephen E. Macadam purchased 2,000 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was purchased at an average cost of $49.78 per share, with a total value of $99,560.00. Following the purchase, the director owned 40,588 shares in the company, valued at $2,020,470.64. This trade represents a 5.18% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Renee Swan sold 3,870 shares of Atmus Filtration Technologies stock in a transaction on Monday, August 17th. The shares were sold at an average price of $50.89, for a total value of $196,944.30. Following the transaction, the insider owned 46,875 shares in the company, valued at approximately $2,385,468.75. This trade represents a 7.63% 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. Corporate insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at about $631,617,000. First Trust Advisors LP raised its holdings in shares of Atmus Filtration Technologies by 3.3% in the 1st quarter. First Trust Advisors LP now owns 2,202,816 shares of the company’s stock worth $125,054,000 after purchasing an additional 70,905 shares in the last quarter. Janus Henderson Group PLC lifted its stake in Atmus Filtration Technologies by 13.3% during the first quarter. Janus Henderson Group PLC now owns 1,551,117 shares of the company’s stock valued at $88,104,000 after purchasing an additional 181,792 shares during the last quarter. Jupiter Topco LLC acquired a new stake in Atmus Filtration Technologies during the second quarter valued at approximately $83,249,000. Finally, Dimensional Fund Advisors LP boosted its holdings in Atmus Filtration Technologies by 3.6% during the first quarter. Dimensional Fund Advisors LP now owns 1,302,972 shares of the company’s stock worth $73,959,000 after buying an additional 45,138 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Up 0.7%

The company has a debt-to-equity ratio of 2.18, a current ratio of 2.65 and a quick ratio of 1.83. The stock has a market capitalization of $3.50 billion, a P/E ratio of 16.44, a PEG ratio of 1.79 and a beta of 1.20. The stock’s fifty day moving average is $47.42 and its two-hundred day moving average is $51.65.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.04. Atmus Filtration Technologies had a return on equity of 59.85% and a net margin of 11.32%. The company had revenue of $527.90 million for the quarter, compared to analysts’ expectations of $507.02 million. During the same quarter in the prior year, the company earned $0.75 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2026 guidance at 2.850-3.000 EPS. As a group, research analysts predict 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 announced a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Thursday, August 27th were given a dividend of $0.06 per share. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.6%. This is a boost from Atmus Filtration Technologies’s previous quarterly dividend of $0.0550. The ex-dividend date of this dividend was Thursday, August 27th. Atmus Filtration Technologies’s payout ratio is presently 9.20%.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc (NYSE: ATMU) is a filtration solutions company that develops, manufactures and distributes products for commercial vehicles, off-highway equipment, power generation systems and industrial applications. The company serves original equipment manufacturers, distributors and customers in the aftermarket.

Its product portfolio includes air, fuel, lube, hydraulic and coolant filtration systems, as well as products designed to support emissions control and other engine and equipment performance needs.