Principal Financial Group Inc. Sells 3,534 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Principal Financial Group Inc. reduced its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 31.2% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 7,786 shares of the company’s stock after selling 3,534 shares during the period. Principal Financial Group Inc.’s holdings in Atmus Filtration Technologies were worth $292,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Quarry LP acquired a new stake in shares of Atmus Filtration Technologies in the 2nd quarter valued at about $29,000. GAMMA Investing LLC boosted its stake in Atmus Filtration Technologies by 89.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock valued at $62,000 after purchasing an additional 774 shares during the last quarter. Rothschild Investment LLC acquired a new position in Atmus Filtration Technologies during the 2nd quarter valued at about $68,000. nVerses Capital LLC acquired a new position in Atmus Filtration Technologies during the 2nd quarter valued at about $115,000. Finally, Daiwa Securities Group Inc. acquired a new position in Atmus Filtration Technologies during the 2nd quarter valued at about $134,000. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $44.50 on Monday. The company has a 50-day simple moving average of $39.52 and a two-hundred day simple moving average of $33.88. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. Atmus Filtration Technologies Inc. has a 12-month low of $21.09 and a 12-month high of $44.66. The firm has a market cap of $3.70 billion, a price-to-earnings ratio of 20.70, a PEG ratio of 4.76 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.52 earnings per share. On average, equities analysts forecast that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is 9.30%.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Robert W. Baird lifted their target price on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities lifted their price target on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. boosted their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and boosted their target price for the company from $42.00 to $45.00 in a report on Monday, November 11th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

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.