Fifth Third Bancorp Invests $2.79 Million in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Fifth Third Bancorp bought a new stake in Atmus Filtration Technologies during Q1, acquiring 49,174 shares worth about $2.79 million and representing roughly 0.06% of the company.
• Atmus recently reported better-than-expected quarterly results, with EPS of $0.69 versus $0.65 expected and revenue of $477.5 million, up 14.6% year over year.
• The company paid a small quarterly dividend of $0.055 per share, while analysts currently hold a Moderate Buy view with a consensus price target of $62.67.

Fifth Third Bancorp purchased a new stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 49,174 shares of the company's stock, valued at approximately $2,792,000. Fifth Third Bancorp owned approximately 0.06% of Atmus Filtration Technologies as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hsbc Holdings PLC lifted its stake in shares of Atmus Filtration Technologies by 58.4% during the first quarter. Hsbc Holdings PLC now owns 39,396 shares of the company's stock worth $2,222,000 after purchasing an additional 14,531 shares in the last quarter. Abel Hall LLC raised its stake in Atmus Filtration Technologies by 16.9% during the first quarter. Abel Hall LLC now owns 4,805 shares of the company's stock valued at $273,000 after buying an additional 696 shares in the last quarter. New York State Teachers Retirement System bought a new stake in Atmus Filtration Technologies during the first quarter valued at $437,000. Elevation Point Wealth Partners LLC bought a new stake in shares of Atmus Filtration Technologies during the 1st quarter valued at about $391,000. Finally, Strs Ohio grew its holdings in shares of Atmus Filtration Technologies by 128.0% during the first quarter. Strs Ohio now owns 11,400 shares of the company's stock valued at $647,000 after purchasing an additional 6,400 shares during the last quarter. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Trading Down 1.5%

Shares of NYSE ATMU opened at $50.57 on Tuesday. The business has a 50 day simple moving average of $50.14 and a 200 day simple moving average of $56.07. Atmus Filtration Technologies Inc. has a 52 week low of $37.22 and a 52 week high of $66.50. The stock has a market cap of $4.13 billion, a price-to-earnings ratio of 19.83, a PEG ratio of 2.19 and a beta of 1.19. The company has a debt-to-equity ratio of 2.47, a quick ratio of 1.70 and a current ratio of 2.53.

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

Atmus Filtration Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, June 10th. Stockholders of record on Tuesday, May 26th were given a dividend of $0.055 per share. 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%.

Insider Buying and Selling

In other news, SVP Charles Masters sold 2,890 shares of Atmus Filtration Technologies stock in a transaction that occurred on Monday, June 1st. The stock was sold at an average price of $45.25, for a total transaction 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. This trade represents a 6.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, Director Gretchen R. Haggerty bought 1,973 shares of Atmus Filtration Technologies stock in a transaction dated Tuesday, May 12th. The stock was purchased at an average price of $55.74 per share, for a total transaction of $109,975.02. Following the purchase, the director directly owned 25,741 shares in the company, valued at $1,434,803.34. This represents a 8.30% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last three months, insiders have sold 36,240 shares of company stock worth $1,639,860. 0.43% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on ATMU. Zacks Research lowered Atmus Filtration Technologies from a "strong-buy" rating to a "hold" rating in a report on Monday, April 6th. JPMorgan Chase & Co. dropped their target price on Atmus Filtration Technologies from $70.00 to $67.00 and set an "overweight" rating on the stock in a report on Monday, May 4th. Robert W. Baird cut their target price 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. Wall Street Zen cut Atmus Filtration Technologies from a "buy" rating to a "hold" rating in a research report on Sunday, June 14th. Finally, Wells Fargo & Company cut their price target on shares of Atmus Filtration Technologies from $67.00 to $58.00 and set an "equal weight" rating for the company in a report on Wednesday, April 1st. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $62.67.

Atmus Filtration Technologies 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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