Atmus Filtration Technologies (NYSE:ATMU) Price Target Raised to $47.00 at JPMorgan Chase & Co.

Atmus Filtration Technologies (NYSE:ATMU) had its target price lifted by JPMorgan Chase & Co. from $46.00 to $47.00 in a report issued on Tuesday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities research analysts have also issued research reports about the company. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research report on Wednesday, October 8th. Wall Street Zen upgraded Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, September 20th. Robert W. Baird increased their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Wells Fargo & Company lifted their price objective on Atmus Filtration Technologies from $42.00 to $47.00 and gave the stock an “equal weight” rating in a report on Thursday, September 18th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $45.60.

Atmus Filtration Technologies Stock Up 2.8%

Shares of NYSE:ATMU opened at $44.36 on Tuesday. 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 business has a fifty day moving average of $44.39 and a two-hundred day moving average of $39.08. The stock has a market cap of $3.64 billion, a P/E ratio of 19.63, a PEG ratio of 5.19 and a beta of 1.63. Atmus Filtration Technologies has a 52-week low of $30.94 and a 52-week high of $47.10.

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

Atmus Filtration Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th were issued a $0.055 dividend. This is a positive change from Atmus Filtration Technologies’s previous quarterly dividend of $0.05. The ex-dividend date of this dividend was Tuesday, August 26th. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. Atmus Filtration Technologies’s dividend payout ratio is currently 9.73%.

Hedge Funds 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. Eminence Capital LP lifted its position in Atmus Filtration Technologies by 12.0% in the second quarter. Eminence Capital LP now owns 6,448,993 shares of the company’s stock worth $234,872,000 after purchasing an additional 691,939 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Atmus Filtration Technologies by 24.5% in the first quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company’s stock valued at $89,094,000 after purchasing an additional 478,018 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Atmus Filtration Technologies by 20.8% in the second quarter. Geode Capital Management LLC now owns 2,365,362 shares of the company’s stock valued at $86,154,000 after purchasing an additional 407,484 shares in the last quarter. Invesco Ltd. lifted its holdings in shares of Atmus Filtration Technologies by 1.5% in the second quarter. Invesco Ltd. now owns 2,189,677 shares of the company’s stock valued at $79,748,000 after purchasing an additional 31,827 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of Atmus Filtration Technologies by 0.7% in the second quarter. State Street Corp now owns 1,953,607 shares of the company’s stock valued at $71,150,000 after purchasing an additional 14,269 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

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.