Principal Financial Group Inc. Lowers Holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU)

Principal Financial Group Inc. decreased its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU) by 6.8% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,694 shares of the company’s stock after selling 487 shares during the quarter. Principal Financial Group Inc.’s holdings in Atmus Filtration Technologies were worth $246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank lifted its stake in shares of Atmus Filtration Technologies by 0.7% in the 4th quarter. Swiss National Bank now owns 163,949 shares of the company’s stock valued at $6,424,000 after purchasing an additional 1,200 shares in the last quarter. Cibc World Markets Corp acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at about $307,000. Xponance Inc. lifted its stake in shares of Atmus Filtration Technologies by 16.4% in the 4th quarter. Xponance Inc. now owns 6,434 shares of the company’s stock valued at $252,000 after purchasing an additional 907 shares in the last quarter. Harvest Fund Management Co. Ltd acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at about $104,000. Finally, Teacher Retirement System of Texas lifted its stake in shares of Atmus Filtration Technologies by 33.5% in the 4th quarter. Teacher Retirement System of Texas now owns 118,259 shares of the company’s stock valued at $4,633,000 after purchasing an additional 29,702 shares in the last quarter. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $37.65 on Monday. The stock’s 50 day moving average price is $36.94 and its 200 day moving average price is $37.51. The firm has a market capitalization of $3.11 billion, a PE ratio of 17.04, a price-to-earnings-growth ratio of 4.67 and a beta of 1.64. The company has a debt-to-equity ratio of 2.12, a quick ratio of 1.46 and a current ratio of 2.23. Atmus Filtration Technologies Inc. has a one year low of $29.07 and a one year high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, May 2nd. The company reported $0.63 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Atmus Filtration Technologies had a return on equity of 94.85% and a net margin of 11.14%. The business had revenue of $110.50 million during the quarter, compared to the consensus estimate of $424.03 million. During the same period in the previous year, the business earned $0.60 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. As a group, sell-side analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, June 18th. Stockholders of record on Tuesday, June 3rd were issued a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, June 3rd. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.53%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.05%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ATMU. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, May 5th. Wells Fargo & Company boosted their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group lowered Atmus Filtration Technologies from a “buy” rating to a “neutral” rating and set a $39.00 price target on the stock. in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $42.80.

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.