AXQ Capital LP Takes Position in Atmus Filtration Technologies Inc. $ATMU

AXQ Capital LP purchased a new position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 8,677 shares of the company’s stock, valued at approximately $316,000.

Several other hedge funds have also made changes to their positions in the stock. KLP Kapitalforvaltning AS increased its position in Atmus Filtration Technologies by 8.6% in the second quarter. KLP Kapitalforvaltning AS now owns 18,900 shares of the company’s stock worth $688,000 after buying an additional 1,500 shares during the period. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Atmus Filtration Technologies during the second quarter valued at $216,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Atmus Filtration Technologies by 6,661.5% during the second quarter. Public Employees Retirement System of Ohio now owns 13,185 shares of the company’s stock valued at $480,000 after acquiring an additional 12,990 shares during the period. Charles Schwab Investment Management Inc. grew its position in shares of Atmus Filtration Technologies by 6.1% during the first quarter. Charles Schwab Investment Management Inc. now owns 799,222 shares of the company’s stock worth $29,355,000 after acquiring an additional 45,727 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Atmus Filtration Technologies by 6.1% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,439 shares of the company’s stock worth $898,000 after acquiring an additional 1,411 shares during the period. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Trading Up 1.6%

Atmus Filtration Technologies stock opened at $48.61 on Tuesday. Atmus Filtration Technologies Inc. has a 12-month low of $30.94 and a 12-month high of $51.84. The company has a debt-to-equity ratio of 1.63, a current ratio of 2.14 and a quick ratio of 1.41. The stock has a market capitalization of $3.96 billion, a PE ratio of 20.25, a price-to-earnings-growth ratio of 3.13 and a beta of 1.62. The firm has a 50 day simple moving average of $45.81 and a 200-day simple moving average of $41.63.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, November 7th. The company reported $0.69 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The firm had revenue of $447.70 million during the quarter, compared to the consensus estimate of $415.02 million. Atmus Filtration Technologies had a return on equity of 76.84% and a net margin of 11.57%.The firm’s revenue for the quarter was up 10.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.61 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. As a group, equities research 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 announced a quarterly dividend, which will be paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th will be 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 is Tuesday, November 25th. Atmus Filtration Technologies’s payout ratio is presently 9.17%.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings reissued 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 research note on Monday, August 11th. Wells Fargo & Company boosted their price objective on Atmus Filtration Technologies from $47.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Monday, November 10th. JPMorgan Chase & Co. increased their price objective on Atmus Filtration Technologies from $47.00 to $53.00 and gave the stock a “neutral” rating in a report on Monday, November 10th. Finally, Wall Street Zen upgraded Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a research report on Saturday, November 15th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $47.25.

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.