Atmus Filtration Technologies Inc. $ATMU Shares Acquired by Eminence Capital LP

Key Points

• Eminence Capital LP has increased its position in Atmus Filtration Technologies by 25.4%, owning approximately 5.76 million shares, making it the 5th largest holding in its portfolio.
• Atmus reported $0.75 earnings per share for the last quarter, exceeding analyst expectations of $0.66, with revenues of $453.50 million, up 4.8% year-over-year.
• The company has announced a quarterly dividend increase to $0.055 per share, marking a positive change from the previous $0.05, with a current dividend yield of 0.5%.

Eminence Capital LP boosted its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 25.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,757,054 shares of the company's stock after purchasing an additional 1,164,440 shares during the quarter. Atmus Filtration Technologies makes up approximately 3.5% of Eminence Capital LP's holdings, making the stock its 5th biggest position. Eminence Capital LP owned 6.96% of Atmus Filtration Technologies worth $211,457,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Wellington Management Group LLP boosted its stake in Atmus Filtration Technologies by 24.5% in the 1st quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company's stock worth $89,094,000 after purchasing an additional 478,018 shares during the period. Invesco Ltd. boosted its position in shares of Atmus Filtration Technologies by 84.8% during the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock valued at $79,258,000 after acquiring an additional 990,468 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its position in shares of Atmus Filtration Technologies by 44.0% during 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 acquiring an additional 584,270 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Atmus Filtration Technologies by 2.8% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,677,985 shares of the company's stock valued at $61,633,000 after acquiring an additional 45,806 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at approximately $48,966,000. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Up 0.2%

ATMU stock traded up $0.11 during trading on Monday, reaching $46.19. 878,838 shares of the company traded hands, compared to its average volume of 793,124. Atmus Filtration Technologies Inc. has a 12 month low of $30.94 and a 12 month high of $46.53. The business has a 50 day simple moving average of $40.52 and a 200 day simple moving average of $37.72. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 20.44, a price-to-earnings-growth ratio of 5.54 and a beta of 1.65. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15.

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 for the quarter, compared to the consensus estimate of $433.51 million. During the same quarter last year, the company earned $0.71 earnings per share. The firm's revenue for the quarter 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 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 firm also recently declared 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 is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio is 9.73%.

Wall Street Analysts Forecast Growth

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