Convergence Investment Partners LLC Takes $2.14 Million Position in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Convergence Investment Partners opened a new position in Atmus Filtration Technologies, buying 37,691 shares worth about $2.14 million in the first quarter.
• The stock has seen mixed sentiment from analysts: several firms recently downgraded or trimmed targets, while the current consensus remains “Moderate Buy” with an average price target of $62.67.
• Atmus reported strong quarterly results, including EPS of $0.69 versus $0.65 expected and revenue of $477.5 million, up 14.6% year over year; however, insiders have also been selling shares recently.

Convergence Investment Partners LLC purchased a new position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,691 shares of the company's stock, valued at approximately $2,140,000.

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

Analyst Ratings Changes

ATMU has been the subject of several recent research reports. Wall Street Zen lowered Atmus Filtration Technologies from a "buy" rating to a "hold" rating in a report on Sunday, June 14th. Wells Fargo & Company lowered their target price on Atmus Filtration Technologies from $67.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 1st. Zacks Research lowered Atmus Filtration Technologies from a "strong-buy" rating to a "hold" rating in a research report on Monday, April 6th. Weiss Ratings downgraded Atmus Filtration Technologies from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, July 15th. Finally, JPMorgan Chase & Co. reduced their price target on Atmus Filtration Technologies from $70.00 to $67.00 and set an "overweight" rating for the company in a report on Monday, May 4th. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Atmus Filtration Technologies currently has an average rating of "Moderate Buy" and an average price target of $62.67.

Atmus Filtration Technologies Price Performance

Shares of Atmus Filtration Technologies stock opened at $50.57 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.70 and a debt-to-equity ratio of 2.47. The firm has a fifty day simple moving average of $50.14 and a 200-day simple moving average of $56.07. The stock has a market capitalization of $4.13 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.19 and a beta of 1.19. Atmus Filtration Technologies Inc. has a 1-year low of $37.22 and a 1-year high of $66.50.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.65 by $0.04. The business had revenue of $477.50 million for the quarter, compared to analyst estimates of $474.41 million. Atmus Filtration Technologies had a net margin of 11.56% and a return on equity of 64.29%. Atmus Filtration Technologies's revenue was up 14.6% compared to the same quarter last year. During the same period last year, the business posted $0.63 EPS. Atmus Filtration Technologies has set its FY 2026 guidance at 2.750-3.000 EPS. On average, sell-side analysts expect that Atmus Filtration Technologies Inc. will post 2.97 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 26th were paid a $0.055 dividend. The ex-dividend date 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 payout ratio is presently 8.63%.

Insiders Place Their Bets

In related news, CFO Jack Kienzler sold 5,132 shares of the business's stock in a transaction dated Monday, June 1st. The stock was sold at an average price of $45.25, for a total transaction of $232,223.00. Following the completion of the transaction, the chief financial officer owned 75,804 shares of the company's stock, valued at approximately $3,430,131. The trade was a 6.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $45.25, for a total value of $130,772.50. Following the sale, the senior vice president owned 43,579 shares of the company's stock, valued at approximately $1,971,949.75. The trade was a 6.22% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 36,240 shares of company stock valued at $1,639,860 in the last ninety days. Company insiders own 0.43% of the company's stock.

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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