Hsbc Holdings PLC Invests $1.40 Million in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Hsbc Holdings PLC purchased a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 49,151 shares of the company’s stock, valued at approximately $1,396,000. Hsbc Holdings PLC owned 0.06% of Atmus Filtration Technologies as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC grew its stake in shares of Atmus Filtration Technologies by 99.1% in the first quarter. Allspring Global Investments Holdings LLC now owns 973,246 shares of the company’s stock worth $31,387,000 after acquiring an additional 484,420 shares during the period. Swiss National Bank grew its stake in shares of Atmus Filtration Technologies by 472.5% in the first quarter. Swiss National Bank now owns 188,349 shares of the company’s stock worth $6,074,000 after acquiring an additional 155,449 shares during the period. Wellington Management Group LLP grew its stake in shares of Atmus Filtration Technologies by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 828,045 shares of the company’s stock worth $19,451,000 after acquiring an additional 60,714 shares during the period. Nomura Holdings Inc. bought a new stake in shares of Atmus Filtration Technologies in the fourth quarter worth approximately $2,764,000. Finally, Quadrature Capital Ltd bought a new stake in shares of Atmus Filtration Technologies in the first quarter worth approximately $969,000. 32.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $35.80.

Atmus Filtration Technologies Stock Performance

ATMU opened at $37.34 on Friday. The company has a current ratio of 2.07, a quick ratio of 1.30 and a debt-to-equity ratio of 3.28. The company has a market cap of $3.11 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 4.21 and a beta of 1.75. The company’s 50 day moving average is $33.43 and its 200 day moving average is $31.06. Atmus Filtration Technologies Inc. has a 12-month low of $18.21 and a 12-month high of $37.96.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.13. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The business had revenue of $432.60 million for the quarter, compared to the consensus estimate of $418.33 million. During the same quarter in the previous year, the firm earned $0.63 earnings per share. The company’s revenue for the quarter was up 4.6% on a year-over-year basis. On average, equities research analysts predict that Atmus Filtration Technologies Inc. will post 2.33 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Thursday, August 1st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.54%. The ex-dividend date of this dividend was Thursday, August 1st. Atmus Filtration Technologies’s dividend payout ratio is currently 10.20%.

Insider Buying and Selling at Atmus Filtration Technologies

In other news, Director Stephen E. Macadam purchased 8,250 shares of the stock in a transaction on Wednesday, August 7th. The shares were acquired at an average price of $31.56 per share, with a total value of $260,370.00. Following the completion of the acquisition, the director now directly owns 32,083 shares of the company’s stock, valued at $1,012,539.48. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Gretchen R. Haggerty bought 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $34.20 per share, for a total transaction of $200,035.80. Following the completion of the transaction, the director now owns 19,882 shares in the company, valued at $679,964.40. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen E. Macadam bought 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $31.56 per share, with a total value of $260,370.00. Following the transaction, the director now owns 32,083 shares of the company’s stock, valued at approximately $1,012,539.48. The disclosure for this purchase can be found here. Insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Profile

Atmus Filtration Technologies Inc designs, manufactures, and sells filtration products under the Fleetguard brand name in North America, Europe, South America, Asia, Australia, Africa, and internationally. The company offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, coolants, and fuel additives, as well as other chemicals; and fuel water separators and other filtration systems to original equipment manufacturers, dealers/distributors, and end-users.