Lazard Asset Management LLC Sells 30,938 Shares of Atmus Filtration Technologies Inc. $ATMU

Lazard Asset Management LLC cut its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 42.9% in the 1st quarter, HoldingsChannel.com reports. The firm owned 41,165 shares of the company’s stock after selling 30,938 shares during the quarter. Lazard Asset Management LLC’s holdings in Atmus Filtration Technologies were worth $2,337,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in Atmus Filtration Technologies by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,200,311 shares of the company’s stock valued at $166,128,000 after buying an additional 163,659 shares during the last quarter. Royce & Associates LP lifted its stake in Atmus Filtration Technologies by 2.7% during the 4th quarter. Royce & Associates LP now owns 667,812 shares of the company’s stock valued at $34,666,000 after acquiring an additional 17,740 shares in the last quarter. Tudor Investment Corp ET AL purchased a new position in Atmus Filtration Technologies during the 3rd quarter worth $1,278,000. Knights of Columbus Asset Advisors LLC purchased a new position in Atmus Filtration Technologies during the 4th quarter worth $1,309,000. Finally, Fieldview Capital Management LLC bought a new stake in shares of Atmus Filtration Technologies in the 4th quarter worth $1,214,000. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $51.65 on Monday. Atmus Filtration Technologies Inc. has a 52-week low of $37.22 and a 52-week high of $66.50. The company has a 50-day simple moving average of $50.39 and a 200 day simple moving average of $56.02. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.70 and a current ratio of 2.53. The company has a market capitalization of $4.22 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 2.20 and a beta of 1.19.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings data on Friday, May 1st. The company reported $0.69 EPS for the quarter, topping the consensus estimate of $0.65 by $0.04. The business had revenue of $477.50 million for the quarter, compared to analyst estimates 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 for the quarter 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. On average, research analysts predict that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 10th. Investors of record on Tuesday, May 26th were issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, May 26th. Atmus Filtration Technologies’s payout ratio is 8.63%.

Analyst Ratings Changes

Several analysts have recently commented on the stock. JPMorgan Chase & Co. lowered their target price on shares of 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 cut shares of Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a report on Monday, April 6th. 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. Robert W. Baird decreased their price objective on shares of Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating for the company in a research note 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 report on Sunday, June 14th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, Atmus Filtration Technologies has a consensus rating of “Moderate Buy” and an average price target of $62.67.

Insider Buying and Selling

In other news, Director Gretchen R. Haggerty acquired 1,973 shares of the company’s stock in a transaction that occurred on Tuesday, May 12th. The shares were acquired at an average price of $55.74 per share, for a total transaction of $109,975.02. Following the completion of the purchase, the director owned 25,741 shares in the company, valued at approximately $1,434,803.34. This trade represents a 8.30% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Jack Kienzler sold 5,132 shares of the stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total value of $232,223.00. Following the transaction, the chief financial officer directly owned 75,804 shares of the company’s stock, valued at approximately $3,430,131. This trade represents a 6.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 36,240 shares of company stock worth $1,639,860 in the last three months. Insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Company Profile

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.