California State Teachers Retirement System Acquires 18,890 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• California State Teachers Retirement System increased its Atmus Filtration Technologies stake by 24%, purchasing 18,890 shares to hold 97,466 shares valued at approximately $5.5 million. Institutional investors collectively own 32.73% of the company.
• Analyst sentiment remains moderately positive, with three Buy ratings and three Hold ratings; the consensus price target is $62, compared with the stock’s recent price of $54.62.
• Atmus recently paid a quarterly dividend of $0.055 per share, equivalent to an annualized $0.22 dividend and a 0.4% yield. An insider also purchased shares, while other insiders sold stock, including one sale made to cover tax withholding.

California State Teachers Retirement System lifted its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 24.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 97,466 shares of the company's stock after purchasing an additional 18,890 shares during the period. California State Teachers Retirement System owned 0.12% of Atmus Filtration Technologies worth $5,533,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Ieq Capital LLC boosted its stake in Atmus Filtration Technologies by 3.4% in the 4th quarter. Ieq Capital LLC now owns 5,530 shares of the company's stock worth $287,000 after purchasing an additional 182 shares in the last quarter. Anchyra Partners LLC lifted its holdings in shares of Atmus Filtration Technologies by 6.6% during the 1st quarter. Anchyra Partners LLC now owns 4,256 shares of the company's stock valued at $242,000 after buying an additional 264 shares during the period. Creative Planning increased its position in shares of Atmus Filtration Technologies by 4.9% during the 2nd quarter. Creative Planning now owns 6,688 shares of the company's stock valued at $244,000 after purchasing an additional 312 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Atmus Filtration Technologies by 6.0% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 6,380 shares of the company's stock valued at $346,000 after acquiring an additional 359 shares during the period. Finally, CWM LLC increased its stake in shares of Atmus Filtration Technologies by 8.1% in the 4th quarter. CWM LLC now owns 4,949 shares of the company's stock worth $257,000 after purchasing an additional 371 shares in the last quarter. Institutional investors own 32.73% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ATMU shares. Wall Street Zen lowered Atmus Filtration Technologies from a "buy" rating to a "hold" rating in a research note on Sunday, June 14th. JPMorgan Chase & Co. reduced their price objective on 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. Weiss Ratings downgraded Atmus Filtration Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 15th. Wells Fargo & Company started coverage on shares of Atmus Filtration Technologies in a research report on Monday. They set an "equal weight" rating and a $56.00 price objective on the stock. Finally, Robert W. Baird lowered their price target on Atmus Filtration Technologies from $66.00 to $63.00 and set an "outperform" rating for the company in a report on Monday, May 4th. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $62.00.

Insiders Place Their Bets

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty acquired 1,973 shares of the business's stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average price of $55.74 per share, for a total transaction of $109,975.02. Following the completion of the purchase, the director directly owned 25,741 shares of the company's stock, valued at $1,434,803.34. The trade was a 8.30% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Renee Swan sold 2,566 shares of the firm's stock in a transaction on Monday, June 1st. The stock was sold at an average price of $45.25, for a total transaction of $116,111.50. Following the transaction, the insider directly owned 50,745 shares of the company's stock, valued at approximately $2,296,211.25. This trade represents a 4.81% 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 ninety days, insiders sold 36,240 shares of company stock valued at $1,639,860. Insiders own 0.43% of the company's stock.

Atmus Filtration Technologies Trading Up 0.9%

Shares of Atmus Filtration Technologies stock opened at $54.62 on Friday. The firm has a market capitalization of $4.46 billion, a price-to-earnings ratio of 21.42, a PEG ratio of 2.30 and a beta of 1.19. The company has a current ratio of 2.53, a quick ratio of 1.70 and a debt-to-equity ratio of 2.47. Atmus Filtration Technologies Inc. has a 12-month low of $37.42 and a 12-month high of $66.50. The firm's 50 day simple moving average is $50.83 and its two-hundred day simple moving average is $55.97.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 26th were issued a $0.055 dividend. The ex-dividend date of this dividend was Tuesday, May 26th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. Atmus Filtration Technologies's dividend payout ratio is currently 8.63%.

Atmus Filtration Technologies Company Profile

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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