Atmus Filtration Technologies (NYSE:ATMU) Reaches New 1-Year High Following Earnings Beat

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s share price reached a new 52-week high on Friday following a stronger than expected earnings report. The stock traded as high as $51.84 and last traded at $50.3880, with a volume of 56930 shares. The stock had previously closed at $46.51.

The company reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.08. The firm had revenue of $447.70 million during the quarter, compared to analyst estimates of $415.02 million. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The business’s revenue was up 10.9% compared to the same quarter last year. During the same period last year, the firm posted $0.61 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS.

Atmus Filtration Technologies Increases Dividend

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

Analyst Upgrades and Downgrades

ATMU has been the topic of several analyst reports. Wells Fargo & Company upped their price target on Atmus Filtration Technologies from $42.00 to $47.00 and gave the company an “equal weight” rating in a research report on Thursday, September 18th. Wall Street Zen lowered shares of Atmus Filtration Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research note on Wednesday, October 8th. Robert W. Baird raised their price target on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, JPMorgan Chase & Co. upped their price target on shares of Atmus Filtration Technologies from $46.00 to $47.00 and gave the stock a “neutral” rating in a report on Tuesday, October 14th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Atmus Filtration Technologies currently has a consensus rating of “Moderate Buy” and an average price target of $45.60.

Institutional Trading of Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently bought and sold shares of ATMU. Nuveen LLC purchased a new position in shares of Atmus Filtration Technologies during the first quarter valued at approximately $48,966,000. Eminence Capital LP boosted its holdings in Atmus Filtration Technologies by 25.4% in the first quarter. Eminence Capital LP now owns 5,757,054 shares of the company’s stock valued at $211,457,000 after acquiring an additional 1,164,440 shares in the last quarter. Invesco Ltd. increased its position in Atmus Filtration Technologies by 84.8% during the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company’s stock valued at $79,258,000 after purchasing an additional 990,468 shares during the period. Wellington Management Group LLP raised its holdings in Atmus Filtration Technologies by 24.5% in the 1st quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company’s stock worth $89,094,000 after purchasing an additional 478,018 shares in the last quarter. Finally, First Trust Advisors LP raised its holdings in Atmus Filtration Technologies by 73.2% in the 2nd quarter. First Trust Advisors LP now owns 1,024,574 shares of the company’s stock worth $37,315,000 after purchasing an additional 433,166 shares in the last quarter. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

The company’s 50-day moving average price is $45.29 and its 200 day moving average price is $40.53. The stock has a market capitalization of $3.93 billion, a PE ratio of 21.19, a PEG ratio of 5.60 and a beta of 1.62. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15.

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.