Atmus Filtration Technologies Inc. $ATMU Shares Sold by Boston Trust Walden Corp

Key Points

• Boston Trust Walden cut its Atmus Filtration Technologies stake by 5.7% in the third quarter, selling 40,561 shares; it retained 669,203 shares, valued at about $29.1 million.
• Atmus reported quarterly EPS of $0.82, beating the $0.78 analyst estimate, while revenue rose 16.5% year over year to $527.9 million. The company also raised its quarterly dividend to $0.06 per share.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $57.67; the stock opened at $46.14 in the latest session cited.

Boston Trust Walden Corp trimmed its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 5.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 669,203 shares of the company's stock after selling 40,561 shares during the quarter. Boston Trust Walden Corp owned about 0.82% of Atmus Filtration Technologies worth $29,057,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ATMU. BlackRock Inc. acquired a new stake in Atmus Filtration Technologies in the 2nd quarter valued at $631,617,000. Jupiter Topco LLC acquired a new position in Atmus Filtration Technologies during the 2nd quarter valued at about $83,249,000. Port Capital LLC bought a new stake in Atmus Filtration Technologies during the 2nd quarter worth approximately $52,739,000. The Manufacturers Life Insurance Company bought a new stake in Atmus Filtration Technologies during the 2nd quarter worth approximately $39,152,000. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Atmus Filtration Technologies by 193.8% in the first quarter. Arrowstreet Capital Limited Partnership now owns 999,548 shares of the company's stock worth $56,744,000 after purchasing an additional 659,357 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Atmus Filtration Technologies

In related news, insider Renee Swan sold 3,870 shares of the company's stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $50.89, for a total transaction of $196,944.30. Following the completion of the transaction, the insider owned 46,875 shares in the company, valued at $2,385,468.75. This represents a 7.63% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Stephen E. Macadam bought 2,000 shares of the company's stock in a transaction dated Wednesday, August 12th. The stock was bought at an average cost of $49.78 per share, with a total value of $99,560.00. Following the completion of the transaction, the director owned 40,588 shares in the company, valued at approximately $2,020,470.64. This trade represents a 5.18% increase in their position. The disclosure for this purchase is available in the SEC filing. 0.43% of the stock is currently owned by company insiders.

Atmus Filtration Technologies Trading Down 3.5%

Shares of ATMU stock opened at $46.14 on Friday. The company has a market capitalization of $3.77 billion, a PE ratio of 16.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.17. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.83 and a current ratio of 2.65. The business's fifty day moving average is $45.30 and its 200 day moving average is $52.91. Atmus Filtration Technologies Inc. has a 52-week low of $40.75 and a 52-week high of $66.50.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its quarterly earnings data on Friday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.78 by $0.04. Atmus Filtration Technologies had a net margin of 11.32% and a return on equity of 59.85%. The company had revenue of $527.90 million during the quarter, compared to the consensus estimate of $507.02 million. During the same period in the previous year, the firm posted $0.75 EPS. The firm's revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 9th. Investors of record on Thursday, August 27th were given a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a yield of 0.5%. The ex-dividend date was Thursday, August 27th. This is a positive change from Atmus Filtration Technologies's previous quarterly dividend of $0.0550. Atmus Filtration Technologies's dividend payout ratio is 9.20%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wells Fargo & Company began coverage on Atmus Filtration Technologies in a research note on Monday, August 3rd. They set an "equal weight" rating and a $56.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of Atmus Filtration Technologies from $67.00 to $54.00 and set an "overweight" rating for the company in a report on Thursday, October 8th. Finally, Weiss Ratings upgraded shares of Atmus Filtration Technologies from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $57.67.

About Atmus Filtration Technologies

Atmus Filtration Technologies Inc NYSE: ATMU is a filtration products and solutions company serving the commercial vehicle, industrial, agriculture, construction, mining and power-generation markets. The company develops and manufactures filtration technologies designed to protect engines, equipment and other critical systems while supporting performance and maintenance requirements.

Atmus's product portfolio includes air, fuel, lube and hydraulic filtration products, as well as solutions for emissions control, crankcase ventilation and coolant management.

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