Atmus Filtration Technologies Inc. $ATMU Shares Sold by Ionic Capital Management LLC

Key Points

• Ionic Capital Management LLC reduced its stake in Atmus Filtration Technologies by 15.5%, now holding 75,355 shares, making it the 10th largest position in their portfolio.
• Atmus Filtration Technologies reported earnings of $0.75 per share for the quarter, surpassing the consensus estimate of $0.66, and a revenue of $453.50 million, higher than expected.
• The company announced a quarterly dividend of $0.055 per share, increasing from the previous $0.05, representing a dividend yield of 0.5%.

Ionic Capital Management LLC lessened its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 15.5% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 75,355 shares of the company's stock after selling 13,801 shares during the quarter. Atmus Filtration Technologies accounts for approximately 0.4% of Ionic Capital Management LLC's portfolio, making the stock its 10th largest holding. Ionic Capital Management LLC owned about 0.09% of Atmus Filtration Technologies worth $2,768,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ATMU. Teachers Retirement System of The State of Kentucky purchased a new stake in shares of Atmus Filtration Technologies during the first quarter worth about $876,000. SG Americas Securities LLC bought a new position in shares of Atmus Filtration Technologies in the first quarter worth approximately $324,000. Oppenheimer Asset Management Inc. lifted its stake in shares of Atmus Filtration Technologies by 12.2% in the first quarter. Oppenheimer Asset Management Inc. now owns 13,585 shares of the company's stock worth $499,000 after buying an additional 1,482 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Atmus Filtration Technologies by 91.1% in the fourth quarter. Millennium Management LLC now owns 186,912 shares of the company's stock worth $7,323,000 after buying an additional 89,107 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Atmus Filtration Technologies in the fourth quarter worth approximately $260,000. Institutional investors own 32.73% of the company's stock.

Atmus Filtration Technologies Trading Up 0.4%

ATMU traded up $0.18 during trading on Wednesday, reaching $45.62. The company had a trading volume of 391,894 shares, compared to its average volume of 790,191. The stock has a market cap of $3.75 billion, a P/E ratio of 20.21, a PEG ratio of 5.56 and a beta of 1.65. The business has a 50 day simple moving average of $40.88 and a 200-day simple moving average of $37.83. Atmus Filtration Technologies Inc. has a 52 week low of $30.94 and a 52 week high of $46.53. 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 posted its quarterly earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $433.51 million. During the same quarter last year, the firm posted $0.71 EPS. The firm's revenue was up 4.8% compared to the same quarter last year. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be paid a dividend of $0.055 per share. This represents a $0.22 annualized dividend and a yield of 0.5%. The ex-dividend date is Tuesday, August 26th. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's dividend payout ratio (DPR) is presently 9.73%.

Analyst Ratings Changes

Several analysts recently issued reports on ATMU shares. The Goldman Sachs Group lowered shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price for the company. in a research report on Tuesday, May 27th. Robert W. Baird boosted their target price on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Wall Street Zen downgraded shares of Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Wells Fargo & Company increased their price objective on shares of 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. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $46.00 price objective (up from $44.00) on shares of Atmus Filtration Technologies in a research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $43.80.

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.