American Century Companies Inc. Lowers Stock Holdings in Atmus Filtration Technologies Inc. $ATMU

Key Points

• American Century Companies Inc. has reduced its stake in Atmus Filtration Technologies by 35.7%, selling 447,989 shares, leaving it with approximately 0.98% ownership valued at about $29.7 million.
• Several institutional investors have increased their holdings in Atmus, with Marshall Wace LLP making a notable increase of 361.7% in the last quarter.
• Atmus Filtration Technologies recently reported an EPS of $0.75 for the quarter, exceeding analyst estimates, and announced a dividend increase to $0.055 per share, reflecting a 0.5% yield.

American Century Companies Inc. trimmed its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 35.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 808,415 shares of the company's stock after selling 447,989 shares during the period. American Century Companies Inc. owned approximately 0.98% of Atmus Filtration Technologies worth $29,693,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ATMU. Eminence Capital LP increased its position 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 valued at $179,939,000 after buying an additional 2,027,617 shares in the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in Atmus Filtration Technologies in the 4th quarter valued at about $63,949,000. Nuveen LLC bought a new stake in Atmus Filtration Technologies in the 1st quarter valued at about $48,966,000. Invesco Ltd. increased its position in Atmus Filtration Technologies by 84.8% in the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock valued at $79,258,000 after buying an additional 990,468 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position 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 valued at $74,879,000 after buying an additional 584,270 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Trading Up 1.2%

Shares of NYSE:ATMU traded up $0.54 on Wednesday, reaching $44.58. 566,146 shares of the company traded hands, compared to its average volume of 913,164. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75. The business's 50-day simple moving average is $39.24 and its 200 day simple moving average is $37.51. The stock has a market capitalization of $3.66 billion, a P/E ratio of 19.73, a price-to-earnings-growth ratio of 5.30 and a beta of 1.64. Atmus Filtration Technologies Inc. has a 52 week low of $30.94 and a 52 week high of $45.92.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The company had revenue of $453.50 million during the quarter, compared to analyst estimates of $433.51 million. During the same period in the prior year, the business posted $0.71 earnings per share. Atmus Filtration Technologies's revenue for the quarter 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, equities analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be issued a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.5%. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio (DPR) is 9.73%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on ATMU. Robert W. Baird boosted their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Wall Street Zen lowered Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday. JPMorgan Chase & Co. reissued a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. The Goldman Sachs Group lowered Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective for the company. in a report on Tuesday, May 27th. Finally, Wells Fargo & Company boosted their target price 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. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Atmus Filtration Technologies presently has an average rating of "Hold" and a consensus price target 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.