Comerica Bank Reduces Holdings in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Comerica Bank has reduced its stake in Atmus Filtration Technologies Inc. by 14.5%, selling 6,163 shares during the first quarter, leaving them with 36,359 shares valued at approximately $1.335 million.
• Atmus Filtration Technologies has reported a $0.75 EPS for the latest quarter, surpassing estimates of $0.66, with revenue rising by 4.8% year-over-year to $453.5 million.
• The company announced an increase in its quarterly dividend from $0.05 to $0.055, indicating a 0.5% dividend yield, reflecting strong financial performance with a payout ratio of just 9.73%.

Comerica Bank lowered its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 14.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 36,359 shares of the company's stock after selling 6,163 shares during the quarter. Comerica Bank's holdings in Atmus Filtration Technologies were worth $1,335,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the company. Wellington Management Group LLP boosted its position in Atmus Filtration Technologies by 24.5% during the first quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company's stock worth $89,094,000 after acquiring an additional 478,018 shares during the last quarter. Invesco Ltd. boosted its holdings in shares of Atmus Filtration Technologies by 84.8% in the 1st quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock valued at $79,258,000 after purchasing an additional 990,468 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in shares of 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 valued at $74,879,000 after purchasing an additional 584,270 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its holdings in shares of Atmus Filtration Technologies by 2.8% in 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 purchasing an additional 45,806 shares during the last quarter. Finally, Nuveen LLC acquired a new position in shares of Atmus Filtration Technologies in the 1st quarter valued at $48,966,000. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Trading Up 0.1%

Shares of ATMU stock traded up $0.04 during mid-day trading on Wednesday, reaching $45.48. The company's stock had a trading volume of 830,511 shares, compared to its average volume of 753,309. The company's 50 day simple moving average is $41.04 and its 200-day simple moving average is $37.88. Atmus Filtration Technologies Inc. has a 12-month low of $30.94 and a 12-month 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. The firm has a market capitalization of $3.74 billion, a PE ratio of 20.13, a price-to-earnings-growth ratio of 5.47 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 EPS for the quarter, beating 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 business 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 firm posted $0.71 EPS. The business'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, research analysts predict that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a $0.055 dividend. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's payout ratio is 9.73%.

Analysts Set New Price Targets

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