Atmus Filtration Technologies (NYSE:ATMU) Cut to “Hold” at Zacks Research

Zacks Research downgraded shares of Atmus Filtration Technologies (NYSE:ATMU) from a strong-buy rating to a hold rating in a research note released on Tuesday,Zacks.com reports.

Several other research firms have also recently issued reports on ATMU. JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $60.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered shares of Atmus Filtration Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Weiss Ratings restated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a report on Wednesday, January 21st. Finally, Wells Fargo & Company increased their target price on Atmus Filtration Technologies from $52.00 to $54.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 7th. Three investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $50.50.

Atmus Filtration Technologies Price Performance

Shares of NYSE:ATMU opened at $57.88 on Tuesday. The company has a market cap of $4.72 billion, a P/E ratio of 24.12, a P/E/G ratio of 2.49 and a beta of 1.57. The business has a fifty day simple moving average of $53.50 and a 200-day simple moving average of $47.18. Atmus Filtration Technologies has a 52 week low of $30.94 and a 52 week high of $58.18. The company has a quick ratio of 1.41, a current ratio of 2.14 and a debt-to-equity ratio of 1.63.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, November 7th. The company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.61 by $0.08. The firm had revenue of $447.70 million for the quarter, compared to analyst estimates 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 quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. Equities research analysts forecast that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 10th. Investors of record on Tuesday, November 25th were given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend was Tuesday, November 25th. Atmus Filtration Technologies’s dividend payout ratio is 9.17%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Channing Capital Management LLC grew its stake in shares of Atmus Filtration Technologies by 3,192.8% in the third quarter. Channing Capital Management LLC now owns 1,715,015 shares of the company’s stock valued at $77,330,000 after buying an additional 1,662,931 shares in the last quarter. Boston Trust Walden Corp purchased a new position in Atmus Filtration Technologies in the 4th quarter worth approximately $44,304,000. Eminence Capital LP boosted its holdings in Atmus Filtration Technologies by 12.0% in the 2nd quarter. Eminence Capital LP now owns 6,448,993 shares of the company’s stock worth $234,872,000 after acquiring an additional 691,939 shares during the period. First Trust Advisors LP grew its position in Atmus Filtration Technologies by 49.1% in the third quarter. First Trust Advisors LP now owns 1,527,957 shares of the company’s stock valued at $68,896,000 after acquiring an additional 503,383 shares in the last quarter. Finally, Port Capital LLC purchased a new stake in shares of Atmus Filtration Technologies during the third quarter valued at approximately $19,409,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Company Profile

Atmus Filtration Technologies is a global developer and manufacturer of high-performance filter media and filtration solutions. The company designs and produces advanced materials that capture airborne particles across a range of applications, from heating, ventilation and air-conditioning (HVAC) systems to industrial and cleanroom environments. By focusing on proprietary meltblown and nanofiber technologies, Atmus delivers media that balances efficiency, airflow and durability for both original equipment manufacturers (OEMs) and aftermarket customers.

The company’s product portfolio encompasses pleated and panel filter media, depth filtration products and specialty laminates used in industries such as commercial buildings, healthcare, transportation and power generation.