Assenagon Asset Management S.A. Trims Position in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Assenagon Asset Management S.A. reduced its stake in Atmus Filtration Technologies Inc. by 20.3%, now holding 369,480 shares worth approximately $13.5 million.
• Atmus reported $0.75 earnings per share for the latest quarter, exceeding forecasts of $0.66, while also raising its quarterly dividend to $0.055.
• Analyst ratings have fluctuated, with Goldman Sachs downgrading the stock to a "neutral" rating, while other firms like Wells Fargo and Robert W. Baird adjusted their price targets upward.

Assenagon Asset Management S.A. lessened its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 20.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 369,480 shares of the company's stock after selling 94,251 shares during the period. Assenagon Asset Management S.A. owned 0.45% of Atmus Filtration Technologies worth $13,456,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of ATMU. Jones Financial Companies Lllp raised its holdings in shares of 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 acquiring an additional 412 shares during the period. SouthState Corp purchased a new position in shares of Atmus Filtration Technologies during the 1st quarter worth $27,000. Strs Ohio purchased a new position in shares of Atmus Filtration Technologies during the 1st quarter worth $121,000. Wealth Enhancement Advisory Services LLC purchased a new position in shares of Atmus Filtration Technologies during the 2nd quarter worth $216,000. Finally, Freedom Investment Management Inc. purchased a new position in shares of Atmus Filtration Technologies during the 1st quarter worth $225,000. Hedge funds and other institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Price Performance

ATMU stock opened at $46.10 on Tuesday. The business has a 50 day moving average price of $42.36 and a 200 day moving average price of $38.33. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 5.53 and a beta of 1.65. Atmus Filtration Technologies Inc. has a fifty-two week low of $30.94 and a fifty-two week high of $47.10. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its quarterly earnings data on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, beating 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 company 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 earnings per share. The firm'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. Equities research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The company 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 an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date was Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.73%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ATMU. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective for the company. in a research report on Tuesday, May 27th. Robert W. Baird raised their price objective on 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 raised their price objective on Atmus Filtration Technologies from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research report on Thursday, September 18th. 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 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 research report on Saturday. Two research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $45.40.

About Atmus Filtration Technologies

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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