The Manufacturers Life Insurance Company Sells 10,920 Shares of Atmus Filtration Technologies Inc. $ATMU

The Manufacturers Life Insurance Company lessened its position in shares of 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 SEC. The fund owned 758,807 shares of the company’s stock after selling 10,920 shares during the quarter. The Manufacturers Life Insurance Company owned 0.93% of Atmus Filtration Technologies worth $43,077,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Jones Financial Companies Lllp grew its stake in shares of Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after purchasing an additional 412 shares during the period. Essex Investment Management Co. LLC bought a new position in shares of Atmus Filtration Technologies in the 4th quarter worth approximately $37,000. GHP Investment Advisors Inc. bought a new position in shares of Atmus Filtration Technologies in the 1st quarter worth approximately $44,000. PNC Financial Services Group Inc. boosted its holdings in shares of Atmus Filtration Technologies by 87.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 849 shares of the company’s stock worth $44,000 after buying an additional 397 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Atmus Filtration Technologies by 1,498.3% during the fourth quarter. Smartleaf Asset Management LLC now owns 959 shares of the company’s stock valued at $50,000 after buying an additional 899 shares during the period. Institutional investors own 32.73% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on ATMU shares. Weiss Ratings downgraded 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 lowered Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. Wall Street Zen cut Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Robert W. Baird reduced their target price on shares of Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating for the company in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Atmus Filtration Technologies from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Monday, May 4th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $62.67.

Insider Activity at Atmus Filtration Technologies

In other news, CFO Jack Kienzler sold 5,132 shares of the company’s stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $232,223.00. Following the sale, the chief financial officer directly owned 75,804 shares in the company, valued at approximately $3,430,131. This represents a 6.34% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 dated Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $130,772.50. Following the completion of the transaction, the senior vice president directly owned 43,579 shares of the company’s stock, valued at approximately $1,971,949.75. The trade was a 6.22% 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 have sold 36,240 shares of company stock valued at $1,639,860 over the last quarter. 0.43% of the stock is currently owned by insiders.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $51.70 on Friday. 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 Inc. has a 1-year low of $37.22 and a 1-year high of $66.50. The business has a 50 day simple moving average of $50.34 and a two-hundred day simple moving average of $56.05. The stock has a market capitalization of $4.22 billion, a PE ratio of 20.27, a P/E/G ratio of 2.15 and a beta of 1.19.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, May 1st. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates 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 return on equity of 64.29% and a net margin of 11.56%.The company’s quarterly revenue was up 14.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.63 EPS. On average, research analysts predict that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 26th were given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.4%. The ex-dividend date was Tuesday, May 26th. Atmus Filtration Technologies’s payout ratio is currently 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.