Insider Buying Signals Positive Momentum for Atmus Filtration Technologies
In this article, we examine the latest findings from the Dividend Channel’s ”DividendRank” report, focusing on companies that have seen insider buying in the past six months. Typically, when company officers and directors purchase shares, it indicates their confidence in the business’s future. This insider buying hints that they believe the stock is undervalued or that they are optimistic about the company’s prospects. One standout is Atmus Filtration Technologies Inc (Symbol: ATMU), where Director Gretchen R. Haggerty recently made a significant investment.
Haggerty’s purchase on August 23 totaled $199,999.82 for 5,849 shares, at a price of $34.20 each. As of Monday, the shares traded as low as $39.13, representing a gain of 14.4% compared to her purchase price. Despite this gain, ATMU shares were down 1.06% on the day. The chart below reflects ATMU’s performance over the past year, compared to its 200-day moving average:
Analyzing the chart, ATMU’s 52-week low was $18.21, while the high reached $40.29, with the last recorded trade at $39.34. Below is a summary of insider purchases within the last six months:
| Purchased | Insider | Title | Shares | Price/Share | Value |
|---|---|---|---|---|---|
| 08/07/2024 | Stephen E. Macadam | Director | 8,250 | $31.56 | $260,370.00 |
| 08/23/2024 | Gretchen R. Haggerty | Director | 5,849 | $34.20 | $199,999.82 |
The DividendRank report highlights that ATMU shares are appealing due to their strong valuation and profitability metrics. Additionally, the report emphasizes the company’s solid track record of quarterly dividends and positive long-term growth rates in key financial areas.
According to the report, ”Dividend investors typically seek strong, profitable companies that are trading at attractive valuations. Our proprietary DividendRank formula aims to identify such opportunities, allowing investors to explore stocks that merit further investigation.”
Currently, Atmus Filtration Technologies Inc offers an annualized dividend of $0.20 per share, distributed quarterly. The most recent dividend ex-date was on 10/31/2024. Below is a long-term chart of ATMU’s dividend history, which is crucial for assessing the sustainability of its dividends.
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Additional Resources:
• LABD Split History
• DATE Videos
• NXC Videos
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
