Atmus Filtration Technologies (NYSE:ATMU) Sets New 1-Year High – Time to Buy?

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $39.08 and last traded at $38.97, with a volume of 236714 shares changing hands. The stock had previously closed at $38.80.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Robert W. Baird lifted their price target on shares of Atmus Filtration Technologies from $36.00 to $37.00 and gave the company an “outperform” rating in a research report on Monday, August 5th. Wells Fargo & Company lifted their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the stock an “overweight” rating in a research report on Monday. Five research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $37.00.

Atmus Filtration Technologies Price Performance

The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of 19.86, a P/E/G ratio of 4.21 and a beta of 1.75. The company has a 50-day moving average of $34.57 and a 200-day moving average of $31.75.

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. The company had revenue of $432.60 million during the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. Atmus Filtration Technologies’s revenue was up 4.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.63 EPS. As a group, equities research analysts expect that Atmus Filtration Technologies Inc. will post 2.33 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a dividend of $0.05 per share. The ex-dividend date was Thursday, August 1st. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

Insider Activity

In related news, Director Gretchen R. Haggerty acquired 5,849 shares of the stock in a transaction dated Friday, August 23rd. The stock was bought at an average cost of $34.20 per share, with a total value of $200,035.80. Following the purchase, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Atmus Filtration Technologies news, Director Stephen E. Macadam purchased 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $31.56 per share, with a total value of $260,370.00. Following the transaction, the director now owns 32,083 shares in the company, valued at approximately $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Gretchen R. Haggerty purchased 5,849 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $34.20 per share, with a total value 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. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 0.43% of the company’s stock.

Institutional Trading of Atmus Filtration Technologies

Institutional investors have recently added to or reduced their stakes in the business. CWM LLC boosted its position in Atmus Filtration Technologies by 3,959.1% in the 3rd quarter. CWM LLC now owns 6,941 shares of the company’s stock valued at $260,000 after buying an additional 6,770 shares during the last quarter. GAMMA Investing LLC boosted its position in Atmus Filtration Technologies by 89.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock valued at $62,000 after buying an additional 774 shares during the last quarter. Handelsbanken Fonder AB boosted its position in Atmus Filtration Technologies by 55.3% in the 3rd quarter. Handelsbanken Fonder AB now owns 25,000 shares of the company’s stock valued at $938,000 after buying an additional 8,900 shares during the last quarter. SG Americas Securities LLC boosted its position in Atmus Filtration Technologies by 423.6% in the 3rd quarter. SG Americas Securities LLC now owns 32,481 shares of the company’s stock valued at $1,219,000 after buying an additional 26,278 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Atmus Filtration Technologies in the 2nd quarter valued at about $14,281,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

About Atmus Filtration Technologies

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.