Principal Financial Group Inc. Sells 3,534 Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU)

Principal Financial Group Inc. cut its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 31.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 7,786 shares of the company’s stock after selling 3,534 shares during the period. Principal Financial Group Inc.’s holdings in Atmus Filtration Technologies were worth $292,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in ATMU. Vanguard Group Inc. increased its holdings in Atmus Filtration Technologies by 366.5% in the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock valued at $260,601,000 after acquiring an additional 6,348,391 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in shares of Atmus Filtration Technologies by 38.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock worth $67,355,000 after purchasing an additional 583,078 shares during the period. American Century Companies Inc. boosted its stake in shares of Atmus Filtration Technologies by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 1,981,937 shares of the company’s stock worth $57,040,000 after purchasing an additional 54,051 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Atmus Filtration Technologies by 26.6% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company’s stock worth $43,290,000 after purchasing an additional 242,718 shares during the period. Finally, Victory Capital Management Inc. lifted its holdings in Atmus Filtration Technologies by 83.5% during the 2nd quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company’s stock valued at $32,397,000 after buying an additional 512,390 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Performance

Shares of NYSE ATMU opened at $44.50 on Monday. The company’s fifty day moving average price is $39.52 and its 200 day moving average price is $33.88. Atmus Filtration Technologies Inc. has a 1 year low of $21.09 and a 1 year high of $44.66. The company has a market capitalization of $3.70 billion, a PE ratio of 20.70, a price-to-earnings-growth ratio of 4.76 and a beta of 1.68. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The firm had revenue of $404.00 million for the quarter, compared to the consensus estimate of $403.40 million. During the same period in the prior year, the firm posted $0.52 earnings per share. The firm’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts predict that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.45%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.30%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ATMU. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and lifted their price objective for the company from $42.00 to $45.00 in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Northland Securities boosted their price objective on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Robert W. Baird boosted their target price on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Company Profile

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.