Summit Global Investments Invests $606,000 in Atmus Filtration Technologies Inc. $ATMU

by · The Markets Daily

Summit Global Investments bought a new stake in Atmus Filtration Technologies Inc. (NYSE:ATMUFree Report) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 11,879 shares of the company’s stock, valued at approximately $606,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after acquiring an additional 412 shares in the last quarter. Essex Investment Management Co. LLC acquired a new stake in Atmus Filtration Technologies in the 4th quarter valued at about $37,000. GHP Investment Advisors Inc. purchased a new position in Atmus Filtration Technologies in the 1st quarter worth approximately $44,000. PNC Financial Services Group Inc. lifted its stake in 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 purchasing an additional 397 shares in the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Atmus Filtration Technologies by 1,498.3% during the 4th quarter. Smartleaf Asset Management LLC now owns 959 shares of the company’s stock worth $50,000 after purchasing an additional 899 shares during the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Trading Up 2.3%

ATMU opened at $50.92 on Friday. The stock has a market capitalization of $4.16 billion, a PE ratio of 19.51, a P/E/G ratio of 2.17 and a beta of 1.19. Atmus Filtration Technologies Inc. has a one year low of $41.82 and a one year high of $66.50. The company has a debt-to-equity ratio of 2.18, a quick ratio of 1.83 and a current ratio of 2.65. The business’s 50 day moving average price is $51.25 and its 200 day moving average price is $55.70.

Atmus Filtration Technologies (NYSE:ATMUGet Free Report) last posted its earnings results on Friday, August 7th. The company reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.78 by $0.04. Atmus Filtration Technologies had a return on equity of 59.85% and a net margin of 11.32%.The company had revenue of $527.90 million during the quarter, compared to analysts’ expectations of $507.02 million. During the same quarter last year, the firm earned $0.75 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Atmus Filtration Technologies has set its FY 2026 guidance at 2.850-3.000 EPS. As a group, equities research analysts expect that Atmus Filtration Technologies Inc. will post 2.94 EPS for the current 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. The ex-dividend date of this dividend is Thursday, August 27th. This is an increase from Atmus Filtration Technologies’s previous quarterly dividend of $0.06. This represents a $0.24 dividend on an annualized basis and a yield of 0.5%. Atmus Filtration Technologies’s dividend payout ratio is currently 8.43%.

Insider Activity at Atmus Filtration Technologies

In other news, insider Renee Swan sold 2,566 shares of the company’s 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 $116,111.50. Following the transaction, the insider directly owned 50,745 shares in the company, valued at approximately $2,296,211.25. This represents a 4.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Jack Kienzler sold 5,132 shares of the 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 $232,223.00. Following the transaction, the chief financial officer directly owned 75,804 shares of the company’s stock, valued at $3,430,131. The trade was a 6.34% 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. Insiders have sold a total of 36,240 shares of company stock valued at $1,639,860 over the last quarter. 0.43% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on ATMU shares. Wall Street Zen lowered Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research report on Sunday, June 14th. Weiss Ratings upgraded Atmus Filtration Technologies from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. JPMorgan Chase & Co. lowered 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. Wells Fargo & Company initiated coverage on Atmus Filtration Technologies in a research note on Monday, August 3rd. They issued an “equal weight” rating and a $56.00 target price for the company. Finally, Robert W. Baird reduced their price target on Atmus Filtration Technologies from $66.00 to $63.00 and set an “outperform” rating on the stock in a report on Monday, May 4th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $62.00.

Get Our Latest Analysis on Atmus Filtration Technologies

About Atmus Filtration Technologies

(Free Report)

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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