Atmus Filtration Technologies Inc. (NYSE:ATMU) Shares Sold by Royce & Associates LP

Key Points

• Royce & Associates LP has reduced its stake in Atmus Filtration Technologies by 2.5%, owning 627,787 shares worth approximately $23 million at the end of the most recent reporting period.
• Analysts have a consensus rating of "Moderate Buy" for Atmus Filtration Technologies, with a price target averaging $42.80, after several brokerages provided varied recommendations in recent weeks.
• The company has declared a $0.05 quarterly dividend, resulting in an annualized yield of 0.52%, reflecting a low dividend payout ratio of 9.05%.

Royce & Associates LP cut its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 2.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 627,787 shares of the company's stock after selling 16,159 shares during the quarter. Royce & Associates LP owned 0.76% of Atmus Filtration Technologies worth $23,059,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. New Age Alpha Advisors LLC purchased a new position in shares of Atmus Filtration Technologies during the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC boosted its position in shares of Atmus Filtration Technologies by 295.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock valued at $54,000 after acquiring an additional 1,022 shares during the last quarter. Quarry LP lifted its position in Atmus Filtration Technologies by 70.9% in the fourth quarter. Quarry LP now owns 1,993 shares of the company's stock valued at $78,000 after buying an additional 827 shares during the last quarter. Wexford Capital LP acquired a new position in Atmus Filtration Technologies in the fourth quarter valued at about $242,000. Finally, Xponance Inc. lifted its position in shares of Atmus Filtration Technologies by 5.6% during the first quarter. Xponance Inc. now owns 6,792 shares of the company's stock worth $249,000 after purchasing an additional 358 shares in the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ATMU. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price on the stock. in a report on Tuesday, May 27th. JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an "overweight" rating in a research report on Monday, May 5th. Finally, Wells Fargo & Company raised their target price on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock traded up $0.50 during midday trading on Friday, reaching $38.54. 760,491 shares of the company were exchanged, compared to its average volume of 668,019. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.46 and a current ratio of 2.23. The company has a market capitalization of $3.19 billion, a price-to-earnings ratio of 17.44, a P/E/G ratio of 4.72 and a beta of 1.64. The firm's 50-day simple moving average is $36.91 and its 200-day simple moving average is $37.49. Atmus Filtration Technologies Inc. has a 1 year low of $29.07 and a 1 year high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.63 EPS for the quarter, beating the consensus estimate of $0.59 by $0.04. Atmus Filtration Technologies had a return on equity of 94.85% and a net margin of 11.14%. The company had revenue of $110.50 million during the quarter, compared to analysts' expectations of $424.03 million. During the same quarter in the previous year, the business earned $0.60 EPS. The firm's revenue was down 2.3% on a year-over-year basis. On average, analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Investors of record on Tuesday, June 3rd were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.52%. The ex-dividend date of this dividend was Tuesday, June 3rd. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.05%.

Atmus Filtration Technologies Company 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.