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 trimmed its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 15.5% in the first quarter, according to the company in its most recent 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 period. Atmus Filtration Technologies makes up about 0.4% of Ionic Capital Management LLC's holdings, making the stock its 10th biggest holding. Ionic Capital Management LLC owned 0.09% of Atmus Filtration Technologies worth $2,768,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. SouthState Corp acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth $27,000. Tower Research Capital LLC TRC increased its holdings in shares of Atmus Filtration Technologies by 295.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock worth $54,000 after buying an additional 1,022 shares during the last quarter. Freedom Investment Management Inc. acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth $225,000. Wexford Capital LP acquired a new stake in Atmus Filtration Technologies in the 4th quarter valued at $242,000. Finally, Xponance Inc. increased its holdings in Atmus Filtration Technologies by 5.6% in the 1st quarter. Xponance Inc. now owns 6,792 shares of the company's stock valued at $249,000 after purchasing an additional 358 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Down 1.7%

NYSE:ATMU traded down $0.77 on Tuesday, reaching $45.42. The stock had a trading volume of 704,652 shares, compared to its average volume of 792,607. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75. Atmus Filtration Technologies Inc. has a 12-month low of $30.94 and a 12-month high of $46.53. The company has a 50-day moving average of $40.71 and a 200 day moving average of $37.78. The stock has a market cap of $3.73 billion, a P/E ratio of 20.10, a price-to-earnings-growth ratio of 5.54 and a beta of 1.65.

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 (EPS) 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 firm had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. During the same quarter last year, the company posted $0.71 earnings per share. Atmus Filtration Technologies's 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, research analysts predict that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a yield of 0.5%. This is a positive change 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 presently 9.73%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ATMU shares. Wells Fargo & Company increased their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Robert W. Baird increased their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $46.00 price target (up from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a report on Tuesday, May 27th. Finally, Wall Street Zen downgraded Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.