Comerica Bank Sells 6,163 Shares of 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 stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 14.5% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm 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 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in ATMU. Nuveen LLC acquired a new stake in shares of Atmus Filtration Technologies in the 1st quarter valued at about $48,966,000. Invesco Ltd. boosted its holdings in shares of Atmus Filtration Technologies by 84.8% during the first quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock worth $79,258,000 after acquiring an additional 990,468 shares during the period. D. E. Shaw & Co. Inc. boosted its holdings in shares of Atmus Filtration Technologies by 44.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,911,153 shares of the company's stock worth $74,879,000 after acquiring an additional 584,270 shares during the period. Wellington Management Group LLP boosted its holdings in shares of 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 period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Atmus Filtration Technologies in the fourth quarter valued at approximately $11,588,000. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $45.59 on Friday. The firm's fifty day moving average price is $40.31 and its 200-day moving average price is $37.70. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15. The stock has a market cap of $3.74 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 5.38 and a beta of 1.65. Atmus Filtration Technologies Inc. has a fifty-two week low of $30.94 and a fifty-two week high of $45.92.

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, topping 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 company had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. During the same quarter last year, the company earned $0.71 EPS. The firm's revenue 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 expect 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 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. This is a boost 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%. The ex-dividend date is Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is currently 9.73%.

Wall Street Analyst Weigh In

ATMU has been the topic of several analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a research note on Wednesday, August 20th. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective on the stock. in a research report on Tuesday, May 27th. Wells Fargo & Company increased their price objective on shares of 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 target price on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Finally, 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. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.