Highland Peak Capital LLC Lowers Stake in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Highland Peak Capital LLC trimmed its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) by 25.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 531,499 shares of the company’s stock after selling 179,426 shares during the quarter. Atmus Filtration Technologies makes up about 5.3% of Highland Peak Capital LLC’s investment portfolio, making the stock its 4th largest holding. Highland Peak Capital LLC’s holdings in Atmus Filtration Technologies were worth $15,297,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Investment Research & Advisory Group Inc. purchased a new position in Atmus Filtration Technologies during the first quarter valued at approximately $26,000. GAMMA Investing LLC lifted its stake in shares of Atmus Filtration Technologies by 103.8% during the 1st quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock valued at $28,000 after buying an additional 442 shares in the last quarter. Evermay Wealth Management LLC purchased a new stake in Atmus Filtration Technologies in the 1st quarter worth $29,000. Rothschild Investment LLC purchased a new position in shares of Atmus Filtration Technologies in the second quarter valued at about $68,000. Finally, CVA Family Office LLC purchased a new position in Atmus Filtration Technologies in the 1st quarter worth approximately $85,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

ATMU stock opened at $35.46 on Tuesday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 3.98 and a beta of 1.75. Atmus Filtration Technologies Inc. has a 52 week low of $18.21 and a 52 week high of $36.06. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The company has a fifty day simple moving average of $32.29 and a two-hundred day simple moving average of $30.43.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, August 2nd. The company reported $0.71 EPS for the quarter, topping the consensus estimate of $0.58 by $0.13. The company had revenue of $432.60 million during the quarter, compared to analyst estimates of $418.33 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. Atmus Filtration Technologies’s quarterly revenue was up 4.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.63 earnings per share. Analysts anticipate that Atmus Filtration Technologies Inc. will post 2.33 earnings per share 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. Investors of record on Thursday, August 1st were paid a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.56%. The ex-dividend date of this dividend was Thursday, August 1st. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their target price 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 analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of “Buy” and an average target price of $35.80.

Insider Activity at Atmus Filtration Technologies

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

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.