Atmus Filtration Technologies Inc. $ATMU Stake Boosted by Summit Global Investments

Summit Global Investments boosted its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 93.1% during the third quarter, Holdings Channel.com reports. The fund owned 22,937 shares of the company’s stock after buying an additional 11,058 shares during the quarter. Summit Global Investments’ holdings in Atmus Filtration Technologies were worth $996,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in shares of Atmus Filtration Technologies in the second quarter worth approximately $631,617,000. First Trust Advisors LP lifted its position in Atmus Filtration Technologies by 3.3% during the first quarter. First Trust Advisors LP now owns 2,202,816 shares of the company’s stock valued at $125,054,000 after purchasing an additional 70,905 shares during the last quarter. Jupiter Topco LLC bought a new stake in Atmus Filtration Technologies during the second quarter valued at approximately $83,249,000. Janus Henderson Group PLC grew its stake in Atmus Filtration Technologies by 13.3% in the 1st quarter. Janus Henderson Group PLC now owns 1,551,117 shares of the company’s stock worth $88,104,000 after buying an additional 181,792 shares in the last quarter. Finally, Wellington Management Group LLP grew its stake in Atmus Filtration Technologies by 4.3% in the 2nd quarter. Wellington Management Group LLP now owns 1,445,763 shares of the company’s stock worth $73,719,000 after buying an additional 59,342 shares in the last quarter. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Insiders Place Their Bets

In other Atmus Filtration Technologies news, Director Stephen E. Macadam bought 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 12th. The shares were bought at an average price of $49.78 per share, for a total transaction of $99,560.00. Following the transaction, the director directly owned 40,588 shares in the company, valued at $2,020,470.64. This trade represents a 5.18% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Renee Swan sold 3,870 shares of Atmus Filtration Technologies stock in a transaction on Monday, August 17th. The stock was sold at an average price of $50.89, for a total transaction of $196,944.30. Following the completion of the transaction, the insider owned 46,875 shares in the company, valued at approximately $2,385,468.75. The trade was a 7.63% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. 0.43% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ATMU has been the topic of a number of research analyst reports. Weiss Ratings raised shares of Atmus Filtration Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wells Fargo & Company started coverage on shares of Atmus Filtration Technologies in a report on Monday, August 3rd. They set an “equal weight” rating and a $56.00 price objective for the company. Finally, JPMorgan Chase & Co. cut their target price on shares of Atmus Filtration Technologies from $67.00 to $54.00 and set an “overweight” rating for the company in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $57.67.

Atmus Filtration Technologies Stock Performance

NYSE:ATMU opened at $45.66 on Monday. The business has a 50 day moving average of $45.45 and a 200 day moving average of $53.09. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 17.49, a PEG ratio of 1.92 and a beta of 1.20. Atmus Filtration Technologies Inc. has a 1-year low of $40.75 and a 1-year high of $66.50. The company has a debt-to-equity ratio of 2.18, a current ratio of 2.65 and a quick ratio of 1.83.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping 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 business had revenue of $527.90 million during the quarter, compared to analyst estimates of $507.02 million. During the same quarter in the prior year, the firm earned $0.75 earnings per share. Atmus Filtration Technologies’s revenue for the quarter 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. On average, sell-side 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 9th. Stockholders of record on Thursday, August 27th were issued a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date was Thursday, August 27th. This is a positive change from Atmus Filtration Technologies’s previous quarterly dividend of $0.0550. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.20%.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc (NYSE: ATMU) is a filtration products and solutions company serving the commercial vehicle, industrial, agriculture, construction, mining and power-generation markets. The company develops and manufactures filtration technologies designed to protect engines, equipment and other critical systems while supporting performance and maintenance requirements.

Atmus’s product portfolio includes air, fuel, lube and hydraulic filtration products, as well as solutions for emissions control, crankcase ventilation and coolant management.