Atmus Filtration Technologies (NYSE:ATMU) Sets New 12-Month High Following Strong Earnings

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

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

Atmus Filtration Technologies Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Teachers Retirement System of The State of Kentucky acquired a new position in Atmus Filtration Technologies during the first quarter valued at approximately $876,000. KLP Kapitalforvaltning AS boosted its holdings in shares of Atmus Filtration Technologies by 8.6% in the 2nd quarter. KLP Kapitalforvaltning AS now owns 18,900 shares of the company’s stock valued at $688,000 after purchasing an additional 1,500 shares in the last quarter. Wealth Enhancement Advisory Services LLC bought a new position in shares of Atmus Filtration Technologies in the 2nd quarter valued at $216,000. Public Employees Retirement System of Ohio increased its stake in shares of Atmus Filtration Technologies by 6,661.5% in the 2nd quarter. Public Employees Retirement System of Ohio now owns 13,185 shares of the company’s stock valued at $480,000 after purchasing an additional 12,990 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Atmus Filtration Technologies by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 799,222 shares of the company’s stock worth $29,355,000 after buying an additional 45,727 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Price Performance

The company has a market cap of $3.93 billion, a price-to-earnings ratio of 19.95, a PEG ratio of 5.76 and a beta of 1.62. The business has a fifty day moving average price of $45.29 and a 200 day moving average price of $40.58. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15.

Atmus Filtration Technologies Company Profile

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.