Ancora Advisors LLC Buys Shares of 138,859 Atmus Filtration Technologies Inc. $ATMU

Key Points

• Ancora Advisors initiated a position of 138,859 Atmus Filtration Technologies shares worth approximately $7.08 million, while institutional investors collectively own 32.73% of the company.
• Analyst sentiment is broadly positive, with four Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $62.00.
• Atmus exceeded quarterly expectations, reporting $0.82 in EPS and $527.9 million in revenue, up 16.5% year over year. The company also declared a quarterly dividend of $0.06 per share, equivalent to a 0.5% annual yield.

Ancora Advisors LLC bought a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 138,859 shares of the company's stock, valued at approximately $7,080,000. Ancora Advisors LLC owned about 0.17% of Atmus Filtration Technologies as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Canada Pension Plan Investment Board bought a new stake in Atmus Filtration Technologies in the 2nd quarter valued at $653,000. Legal & General Group Plc bought a new position in shares of Atmus Filtration Technologies during the second quarter valued at $9,501,000. The Manufacturers Life Insurance Company acquired a new stake in shares of Atmus Filtration Technologies during the second quarter worth approximately $39,152,000. Marathon Partners Equity Management LLC bought a new position in Atmus Filtration Technologies in the 2nd quarter valued at $3,926,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in Atmus Filtration Technologies during the 2nd quarter worth about $3,217,000. 32.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have commented on ATMU shares. Weiss Ratings upgraded shares of Atmus Filtration Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, August 11th. Wells Fargo & Company began coverage on shares of Atmus Filtration Technologies in a research note on Monday, August 3rd. They issued an "equal weight" rating and a $56.00 target price for the company. Robert W. Baird lowered their price objective on shares of Atmus Filtration Technologies from $66.00 to $63.00 and set an "outperform" rating on the stock in a report on Monday, May 4th. Wall Street Zen cut Atmus Filtration Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Atmus Filtration Technologies from $70.00 to $67.00 and set an "overweight" rating on the stock in a research note on Monday, May 4th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $62.00.

Insider Buying and Selling at Atmus Filtration Technologies

In other news, Director Stephen E. Macadam bought 2,000 shares of the business's stock in a transaction that occurred on Wednesday, August 12th. The shares were purchased at an average cost of $49.78 per share, for a total transaction of $99,560.00. Following the completion of the purchase, the director owned 40,588 shares of the company's stock, valued at approximately $2,020,470.64. This represents a 5.18% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Stephanie Disher sold 25,652 shares of the stock in a transaction dated Monday, June 1st. The shares were sold at an average price of $45.25, for a total value of $1,160,753.00. Following the completion of the transaction, the chief executive officer owned 363,024 shares in the company, valued at approximately $16,426,836. The trade was a 6.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 40,110 shares of company stock valued at $1,836,804. 0.43% of the stock is currently owned by company insiders.

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU opened at $49.61 on Wednesday. The firm has a market cap of $4.05 billion, a PE ratio of 19.01, a PEG ratio of 2.03 and a beta of 1.19. The firm has a fifty day moving average of $51.36 and a 200 day moving average of $55.23. Atmus Filtration Technologies Inc. has a one year low of $42.60 and a one year high of $66.50. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.83 and a current ratio of 2.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data on Friday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.78 by $0.04. The firm had revenue of $527.90 million during the quarter, compared to analyst estimates of $507.02 million. Atmus Filtration Technologies had a net margin of 11.32% and a return on equity of 59.85%. Atmus Filtration Technologies's quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.75 earnings per share. Atmus Filtration Technologies has set its FY 2026 guidance at 2.850-3.000 EPS. As a group, research analysts predict that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Thursday, August 27th will be issued a dividend of $0.06 per share. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.06. The ex-dividend date is Thursday, August 27th. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Atmus Filtration Technologies's dividend payout ratio (DPR) is currently 8.43%.

About Atmus Filtration Technologies

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.

Want to see what other hedge funds are holding ATMU? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.