BlackRock Inc. Purchases Shares of 12,387,072 Atmus Filtration Technologies Inc. $ATMU

Key Points

• BlackRock acquired 12.4 million Atmus Filtration Technologies shares worth approximately $631.6 million, giving it a 15.17% stake and making it a significant institutional investor.
• Atmus exceeded quarterly expectations, reporting $0.82 EPS and $527.9 million in revenue, with revenue rising 16.5% year over year. Analysts maintain a “Moderate Buy” consensus and a $62 average price target.
• The company announced a quarterly dividend of $0.06 per share, equivalent to $0.24 annually and a 0.5% yield; shares recently traded near $49.80, below their one-year high of $66.50.

BlackRock Inc. acquired a new stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 12,387,072 shares of the company's stock, valued at approximately $631,617,000. BlackRock Inc. owned approximately 15.17% of Atmus Filtration Technologies at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp grew its position in Atmus Filtration Technologies by 143.1% in the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after buying an additional 412 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Atmus Filtration Technologies during the 4th quarter worth $37,000. GHP Investment Advisors Inc. acquired a new position in shares of Atmus Filtration Technologies in the 1st quarter worth $44,000. PNC Financial Services Group Inc. grew its holdings in shares of Atmus Filtration Technologies by 87.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 849 shares of the company's stock worth $44,000 after acquiring an additional 397 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its position in shares of Atmus Filtration Technologies by 93.6% during the second quarter. Geneos Wealth Management Inc. now owns 1,332 shares of the company's stock worth $49,000 after purchasing an additional 644 shares during the period. Institutional investors and hedge funds own 32.73% of the company's stock.

Analyst Ratings Changes

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

Atmus Filtration Technologies Stock Performance

Shares of NYSE ATMU opened at $49.80 on Monday. The company has a current ratio of 2.65, a quick ratio of 1.83 and a debt-to-equity ratio of 2.18. Atmus Filtration Technologies Inc. has a one year low of $42.60 and a one year high of $66.50. The business has a 50-day moving average price of $51.44 and a two-hundred day moving average price of $55.40. The firm has a market capitalization of $4.06 billion, a PE ratio of 19.08, a PEG ratio of 2.10 and a beta of 1.19.

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

Atmus Filtration Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Thursday, August 27th will be given a $0.06 dividend. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Thursday, August 27th. This is a positive change from Atmus Filtration Technologies's previous quarterly dividend of $0.06. Atmus Filtration Technologies's payout ratio is currently 9.20%.

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, CEO Stephanie Disher sold 25,652 shares of Atmus Filtration Technologies stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $1,160,753.00. Following the completion of the sale, the chief executive officer owned 363,024 shares of the company's stock, valued at $16,426,836. This trade represents a 6.60% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, SVP Charles Masters sold 2,890 shares of the business's stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $130,772.50. Following the transaction, the senior vice president owned 43,579 shares in the company, valued at approximately $1,971,949.75. This represents a 6.22% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last ninety days, insiders have sold 40,110 shares of company stock worth $1,836,804. 0.43% of the stock is currently owned by company insiders.

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.

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