Algert Global LLC Acquires 65,514 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• Algert Global LLC increased its stake in Atmus Filtration Technologies by 24.4% in Q1, owning 334,007 shares, valued at approximately $12.27 million.
• Multiple institutional investors have made significant adjustments to their holdings, with Eminence Capital LP raising its stake by 79% to nearly $180 million.
• Atmus Filtration Technologies plans to pay a quarterly dividend of $0.055 per share, an increase from its previous dividend, with an annual dividend yield of roughly 0.5%.

Algert Global LLC grew its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 24.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 334,007 shares of the company's stock after acquiring an additional 65,514 shares during the quarter. Algert Global LLC owned 0.40% of Atmus Filtration Technologies worth $12,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in ATMU. Eminence Capital LP increased its stake in Atmus Filtration Technologies by 79.0% in the 4th quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock worth $179,939,000 after acquiring an additional 2,027,617 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Atmus Filtration Technologies in the 4th quarter worth approximately $63,949,000. Nuveen LLC bought a new stake in Atmus Filtration Technologies in the 1st quarter worth approximately $48,966,000. Invesco Ltd. increased its stake in Atmus Filtration Technologies by 84.8% in the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock worth $79,258,000 after acquiring an additional 990,468 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Atmus Filtration Technologies by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,911,153 shares of the company's stock worth $74,879,000 after acquiring an additional 584,270 shares during the last quarter. Institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Trading Up 4.8%

Shares of Atmus Filtration Technologies stock traded up $2.0150 on Friday, reaching $44.2750. The company had a trading volume of 279,952 shares, compared to its average volume of 797,389. The firm has a market cap of $3.64 billion, a price-to-earnings ratio of 19.59, a P/E/G ratio of 5.09 and a beta of 1.64. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.43. The firm's 50-day moving average price is $38.54 and its two-hundred day moving average price is $37.42. Atmus Filtration Technologies Inc. has a 1 year low of $30.94 and a 1 year high of $45.92.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $453.50 million during the quarter, compared to analysts' expectations of $433.51 million. During the same quarter in the previous year, the business earned $0.71 EPS. The company'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. As a group, research analysts predict that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be paid a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's dividend payout ratio is 9.73%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Wells Fargo & Company lifted their price objective on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group cut Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price for the company. in a report on Tuesday, May 27th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $46.00 target price (up previously from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday. Wall Street Zen upgraded Atmus Filtration Technologies from a "hold" rating to a "strong-buy" rating in a report on Saturday, August 16th. Finally, Robert W. Baird lifted their target price on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Atmus Filtration Technologies presently has an average rating of "Hold" and a consensus target price of $43.80.

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.