Wellington Management Group LLP Purchases 478,018 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• Wellington Management Group LLP increased its stake in Atmus Filtration Technologies by 24.5% during the first quarter, owning approximately 2.93% of the company valued at around $89 million.
• Atmus Filtration Technologies' recent earnings report showed $0.75 earnings per share, surpassing estimates, with revenue reaching $453.5 million for the quarter.
• The company has declared a quarterly dividend of $0.055 per share, increasing from a previous $0.05, reflecting a growth in shareholder returns.

Wellington Management Group LLP boosted its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 24.5% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 2,425,657 shares of the company's stock after buying an additional 478,018 shares during the period. Wellington Management Group LLP owned 2.93% of Atmus Filtration Technologies worth $89,094,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ATMU. Eminence Capital LP increased its stake in Atmus Filtration Technologies by 79.0% in the 4th quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock worth $179,939,000 after buying an additional 2,027,617 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Atmus Filtration Technologies in the 4th quarter worth $63,949,000. Nuveen LLC purchased a new stake in Atmus Filtration Technologies in the 1st quarter worth $48,966,000. Invesco Ltd. increased its stake in Atmus Filtration Technologies by 84.8% in the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock worth $79,258,000 after buying an additional 990,468 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Atmus Filtration Technologies by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,911,153 shares of the company's stock worth $74,879,000 after buying an additional 584,270 shares in the last quarter. Hedge funds and other institutional investors own 32.73% of the company's stock.

Wall Street Analysts Forecast Growth

ATMU has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on 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. Wall Street Zen lowered Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday. Robert W. Baird raised their price objective 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. JPMorgan Chase & Co. restated a "neutral" rating and set a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Finally, The Goldman Sachs Group lowered Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective for the company. in a research report on Tuesday, May 27th. Two equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $43.80.

Atmus Filtration Technologies Trading Up 1.4%

ATMU traded up $0.62 on Wednesday, hitting $44.66. The company had a trading volume of 122,846 shares, compared to its average volume of 794,194. The company has a market cap of $3.67 billion, a PE ratio of 19.73, a PEG ratio of 5.32 and a beta of 1.64. Atmus Filtration Technologies Inc. has a 12-month low of $30.94 and a 12-month high of $45.92. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The business's fifty day simple moving average is $39.05 and its 200 day simple moving average is $37.47.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released 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. The company had revenue of $453.50 million during the quarter, compared to analyst estimates of $433.51 million. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The firm's revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the business posted $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. Equities research analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be given a $0.055 dividend. This is an increase 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 is Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio (DPR) is 8.85%.

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.