Aberdeen Group plc Has $22.06 Million Stock Holdings in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Aberdeen Group plc reduced its stake in Atmus Filtration Technologies Inc. by 12.3%, holding 605,769 shares worth approximately $22 million at the end of the last quarter.
• Wall Street analysts have increased their price targets for Atmus Filtration Technologies, with Robert W. Baird and Wells Fargo raising their targets to $45 and $47, respectively, indicating a positive outlook for the stock.
• Atmus Filtration Technologies recently announced a quarterly dividend increase, now yielding 0.5% annually after a boost from $0.05 to $0.055 per share.

Aberdeen Group plc reduced its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 12.3% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 605,769 shares of the company's stock after selling 85,043 shares during the period. Aberdeen Group plc owned about 0.73% of Atmus Filtration Technologies worth $22,062,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of ATMU. Xponance Inc. lifted its position in shares of Atmus Filtration Technologies by 5.6% in the first quarter. Xponance Inc. now owns 6,792 shares of the company's stock worth $249,000 after purchasing an additional 358 shares in the last quarter. Hohimer Wealth Management LLC raised its holdings in Atmus Filtration Technologies by 4.5% in the 1st quarter. Hohimer Wealth Management LLC now owns 9,053 shares of the company's stock valued at $333,000 after buying an additional 386 shares during the last quarter. Jones Financial Companies Lllp raised its holdings in Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after purchasing an additional 412 shares during the last quarter. SouthState Corp acquired a new stake in Atmus Filtration Technologies in the 1st quarter valued at $27,000. Finally, Gabelli Funds LLC boosted its holdings in Atmus Filtration Technologies by 3.9% during the 1st quarter. Gabelli Funds LLC now owns 26,500 shares of the company's stock worth $973,000 after acquiring an additional 1,000 shares during the last quarter. 32.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

ATMU has been the topic of a number of research reports. Robert W. Baird boosted their price objective on 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 lifted their price objective 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Atmus Filtration Technologies in a research note on Wednesday, October 8th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $46.00 price target (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Finally, Wall Street Zen raised Atmus Filtration Technologies from a "buy" rating to a "strong-buy" rating in a report on Saturday, September 20th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, Atmus Filtration Technologies has a consensus rating of "Moderate Buy" and a consensus target price of $45.40.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $43.20 on Tuesday. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15. The company has a market capitalization of $3.55 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 5.15 and a beta of 1.63. The stock has a fifty day moving average of $44.26 and a two-hundred day moving average of $39.05. Atmus Filtration Technologies Inc. has a fifty-two week low of $30.94 and a fifty-two week high of $47.10.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.09. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The business had revenue of $453.50 million for the quarter, compared to analyst estimates of $433.51 million. During the same period last year, the company posted $0.71 EPS. The business's quarterly revenue was up 4.8% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th were issued a dividend of $0.055 per share. 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. This represents a $0.22 annualized dividend and a yield of 0.5%. Atmus Filtration Technologies's dividend payout ratio is presently 9.73%.

Atmus Filtration Technologies 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.

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