Eminence Capital LP Raises Holdings in Atmus Filtration Technologies Inc. $ATMU

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 grew its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 25.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. 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 comprises approximately 3.5% of Eminence Capital LP's holdings, making the stock its 5th largest holding. Eminence Capital LP owned 6.96% of Atmus Filtration Technologies worth $211,457,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Ancora Advisors LLC grew its stake in shares of Atmus Filtration Technologies by 2.2% during the first quarter. Ancora Advisors LLC now owns 370,345 shares of the company's stock worth $13,603,000 after purchasing an additional 7,860 shares during the period. Dark Forest Capital Management LP grew its stake in shares of Atmus Filtration Technologies by 253.2% during the first quarter. Dark Forest Capital Management LP now owns 253,532 shares of the company's stock worth $9,312,000 after purchasing an additional 181,750 shares during the period. PDT Partners LLC grew its stake in shares of Atmus Filtration Technologies by 34.3% during the first quarter. PDT Partners LLC now owns 100,354 shares of the company's stock worth $3,686,000 after purchasing an additional 25,613 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Atmus Filtration Technologies by 1.9% during the first quarter. The Manufacturers Life Insurance Company now owns 1,331,915 shares of the company's stock worth $48,921,000 after purchasing an additional 25,167 shares during the period. Finally, State of Wyoming grew its stake in shares of Atmus Filtration Technologies by 62.0% during the first quarter. State of Wyoming now owns 10,624 shares of the company's stock worth $390,000 after purchasing an additional 4,064 shares during the period. 32.73% of the stock is owned by institutional investors and hedge funds.

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU traded down $0.82 during midday trading on Tuesday, reaching $45.37. 323,648 shares of the company were exchanged, compared to its average volume of 790,271. The stock's 50-day moving average price is $40.71 and its 200-day moving average price is $37.78. The stock has a market cap of $3.73 billion, a P/E ratio of 20.08, a PEG ratio of 5.54 and a beta of 1.65. Atmus Filtration Technologies Inc. has a one year low of $30.94 and a one year 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 issued its quarterly earnings data on Friday, August 8th. The company reported $0.75 earnings per share 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 analysts' expectations of $433.51 million. During the same quarter in the previous year, the firm 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. On average, sell-side 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is currently 9.73%.

Analyst Upgrades and Downgrades

ATMU has been the topic of several research analyst reports. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective on the stock. in a research note on Tuesday, May 27th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. Wells Fargo & Company boosted their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Wall Street Zen downgraded Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. Finally, Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $43.80.

Atmus Filtration Technologies Company 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.