Atmus Filtration Technologies (NYSE:ATMU) Hits New 52-Week High – Should You Buy?

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s stock price reached a new 52-week high during trading on Thursday . The company traded as high as $38.23 and last traded at $38.23, with a volume of 179936 shares. The stock had previously closed at $37.17.

Analyst Upgrades and Downgrades

Separately, Robert W. Baird raised their price target on shares of Atmus Filtration Technologies from $36.00 to $37.00 and gave the stock an “outperform” rating in a research report on Monday, August 5th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Atmus Filtration Technologies presently has a consensus rating of “Buy” and an average target price of $35.80.

Atmus Filtration Technologies Trading Up 0.4 %

The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. The stock has a market capitalization of $3.18 billion, a P/E ratio of 19.45, a price-to-earnings-growth ratio of 4.21 and a beta of 1.75. The firm’s fifty day simple moving average is $34.25 and its 200 day simple moving average is $31.55.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The firm had revenue of $432.60 million for the quarter, compared to analyst estimates of $418.33 million. During the same period last year, the firm earned $0.63 EPS. The business’s quarterly revenue was up 4.6% compared to the same quarter last year. As a group, equities research analysts forecast that Atmus Filtration Technologies Inc. will post 2.33 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were paid a $0.05 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.52%. Atmus Filtration Technologies’s payout ratio is currently 10.20%.

Insider Activity

In related news, Director Stephen E. Macadam purchased 8,250 shares of Atmus Filtration Technologies stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $31.56 per share, for a total transaction of $260,370.00. Following the purchase, the director now owns 32,083 shares in the company, valued at approximately $1,012,539.48. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty bought 5,849 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the transaction, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stephen E. Macadam bought 8,250 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average price of $31.56 per share, for a total transaction of $260,370.00. Following the completion of the transaction, the director now owns 32,083 shares in the company, valued at $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several hedge funds have recently added to or reduced their stakes in ATMU. Thrivent Financial for Lutherans lifted its position in shares of Atmus Filtration Technologies by 854.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock worth $5,346,000 after purchasing an additional 166,274 shares during the period. Allspring Global Investments Holdings LLC increased its stake in shares of Atmus Filtration Technologies by 99.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 973,246 shares of the company’s stock valued at $31,387,000 after acquiring an additional 484,420 shares in the last quarter. Swiss National Bank increased its stake in shares of Atmus Filtration Technologies by 472.5% in the 1st quarter. Swiss National Bank now owns 188,349 shares of the company’s stock valued at $6,074,000 after acquiring an additional 155,449 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Atmus Filtration Technologies by 7.9% in the 4th quarter. Wellington Management Group LLP now owns 828,045 shares of the company’s stock valued at $19,451,000 after acquiring an additional 60,714 shares in the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Atmus Filtration Technologies in the 4th quarter valued at $2,764,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

About Atmus Filtration Technologies

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.