Lazard Asset Management LLC Sells 30,938 Shares of Atmus Filtration Technologies Inc. $ATMU

Lazard Asset Management LLC cut its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 42.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,165 shares of the company’s stock after selling 30,938 shares during the quarter. Lazard Asset Management LLC owned about 0.05% of Atmus Filtration Technologies worth $2,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Jones Financial Companies Lllp boosted its position in Atmus Filtration Technologies by 143.1% during the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after acquiring an additional 412 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of Atmus Filtration Technologies in the 4th quarter worth about $37,000. GHP Investment Advisors Inc. bought a new position in shares of Atmus Filtration Technologies in the 1st quarter worth about $44,000. PNC Financial Services Group Inc. lifted its stake in shares of Atmus Filtration Technologies by 87.8% in the 4th quarter. PNC Financial Services Group Inc. now owns 849 shares of the company’s stock valued at $44,000 after purchasing an additional 397 shares during the period. Finally, Geneos Wealth Management Inc. lifted its stake in shares of Atmus Filtration Technologies by 93.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,332 shares of the company’s stock valued at $49,000 after purchasing an additional 644 shares during the period. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

Shares of ATMU opened at $51.65 on Monday. Atmus Filtration Technologies Inc. has a one year low of $37.22 and a one year high of $66.50. The company has a market cap of $4.22 billion, a PE ratio of 20.25, a P/E/G ratio of 2.20 and a beta of 1.19. The stock has a 50-day moving average of $50.39 and a 200-day moving average of $56.02. The company has a debt-to-equity ratio of 2.47, a current ratio of 2.53 and a quick ratio of 1.70.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.04. The business had revenue of $477.50 million for the quarter, compared to the consensus estimate of $474.41 million. Atmus Filtration Technologies had a return on equity of 64.29% and a net margin of 11.56%.The firm’s revenue for the quarter was up 14.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.63 EPS. On average, equities research analysts predict that Atmus Filtration Technologies Inc. will post 2.97 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced 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. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date of this dividend was Tuesday, May 26th. Atmus Filtration Technologies’s dividend payout ratio is presently 8.63%.

Insider Buying and Selling

In other Atmus Filtration Technologies news, SVP Charles Masters sold 2,890 shares of the company’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $130,772.50. Following the transaction, the senior vice president owned 43,579 shares in the company, valued at approximately $1,971,949.75. This represents a 6.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Stephanie Disher sold 25,652 shares of the firm’s stock in a transaction on Monday, June 1st. The shares were sold at an average price of $45.25, for a total transaction of $1,160,753.00. Following the completion of the transaction, the chief executive officer directly owned 363,024 shares in the company, valued at $16,426,836. This trade represents a 6.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 36,240 shares of company stock worth $1,639,860 over the last quarter. Corporate insiders own 0.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ATMU. Wall Street Zen cut Atmus Filtration Technologies from a “buy” rating to a “hold” rating in a research note on Sunday, June 14th. Zacks Research lowered Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a research note on Monday, April 6th. JPMorgan Chase & Co. cut their price target 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 reduced their price objective on shares of 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. Finally, Weiss Ratings lowered shares of Atmus Filtration Technologies from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, July 15th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and an average target price of $62.67.

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.