Atmus Filtration Technologies Inc. $ATMU Shares Purchased by AlphaQuest LLC

Key Points

• AlphaQuest LLC increased its holdings in Atmus Filtration Technologies Inc. by 45.0%, acquiring a total of 18,582 shares valued at approximately $683,000.
• Atmus reported $0.75 earnings per share for the last quarter, exceeding analysts' expectations of $0.66, alongside a revenue of $453.50 million.
• The company also announced an increase in its quarterly dividend to $0.055, reflecting a 0.5% yield, with payment scheduled for September 10th.

AlphaQuest LLC raised its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 45.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,582 shares of the company's stock after purchasing an additional 5,768 shares during the period. AlphaQuest LLC's holdings in Atmus Filtration Technologies were worth $683,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ATMU. SouthState Corp purchased a new position in shares of Atmus Filtration Technologies in the 1st quarter valued at $27,000. Tower Research Capital LLC TRC lifted its holdings in shares of Atmus Filtration Technologies by 295.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock valued at $54,000 after buying an additional 1,022 shares during the period. Quarry LP lifted its holdings in shares of Atmus Filtration Technologies by 70.9% in the 4th quarter. Quarry LP now owns 1,993 shares of the company's stock valued at $78,000 after buying an additional 827 shares during the period. Wexford Capital LP acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at about $242,000. Finally, Caption Management LLC acquired a new position in Atmus Filtration Technologies in the 4th quarter worth about $251,000. 32.73% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Wall Street Zen lowered Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Wells Fargo & Company increased their price objective 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. Robert W. Baird upped their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. The Goldman Sachs Group cut Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target on the stock. in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. reiterated 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 issued a Hold rating to the stock. According to MarketBeat.com, Atmus Filtration Technologies has a consensus rating of "Hold" and a consensus target price of $43.80.

Atmus Filtration Technologies Trading Down 0.0%

ATMU traded down $0.02 during trading on Thursday, hitting $44.54. The company's stock had a trading volume of 482,605 shares, compared to its average volume of 914,458. Atmus Filtration Technologies Inc. has a twelve month low of $30.94 and a twelve month high of $45.92. The firm's 50 day moving average price is $39.42 and its 200-day moving average price is $37.54. The stock has a market cap of $3.66 billion, a PE ratio of 19.71, a PEG ratio of 5.36 and a beta of 1.64. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.43.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The firm had revenue of $453.50 million during the quarter, compared to analysts' expectations of $433.51 million. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The firm's revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the company earned $0.71 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current 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 $0.055 dividend. The ex-dividend date is Tuesday, August 26th. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. Atmus Filtration Technologies's dividend payout ratio (DPR) is 9.73%.

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.