Atmus Filtration Technologies (NYSE:ATMU) Hits New 12-Month High – Here’s What Happened

Atmus Filtration Technologies Inc. (NYSE:ATMU) reached a new 52-week high on Friday . The stock traded as high as $46.39 and last traded at $45.72, with a volume of 46935 shares changing hands. The stock had previously closed at $45.58.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Wall Street Zen downgraded Atmus Filtration Technologies from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 24th. Wells Fargo & Company lifted their price objective 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. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an “outperform” rating in a research report on Monday, August 11th. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. reiterated a “neutral” rating and set a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $43.80.

Atmus Filtration Technologies Price Performance

The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The company has a market cap of $3.78 billion, a PE ratio of 20.37, a P/E/G ratio of 5.54 and a beta of 1.65. The stock has a 50-day simple moving average of $40.52 and a 200 day simple moving average of $37.73.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The company had revenue of $453.50 million for the quarter, compared to the consensus estimate of $433.51 million. During the same quarter in the previous year, the business earned $0.71 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. Equities analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a $0.055 dividend. This is an increase from Atmus Filtration Technologies’s previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Tuesday, August 26th. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.73%.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Atmus Filtration Technologies in the first quarter valued at $876,000. SG Americas Securities LLC acquired a new stake in shares of Atmus Filtration Technologies in the first quarter valued at $324,000. Oppenheimer Asset Management Inc. grew its stake in shares of Atmus Filtration Technologies by 12.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,585 shares of the company’s stock valued at $499,000 after buying an additional 1,482 shares in the last quarter. Millennium Management LLC grew its stake in shares of Atmus Filtration Technologies by 91.1% in the fourth quarter. Millennium Management LLC now owns 186,912 shares of the company’s stock valued at $7,323,000 after buying an additional 89,107 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of Atmus Filtration Technologies in the fourth quarter valued at $260,000. Hedge funds and other institutional investors own 32.73% of the company’s stock.

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.