Goldman Sachs Group Inc. Decreases Stock Position in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Goldman Sachs reduced its stake in Atmus Filtration Technologies by 10.3%, owning 3,004,759 shares valued at approximately $110.37 million as of the latest quarter.
• Multiple analysts have upgraded or set new price targets for Atmus, with Goldman Sachs downgrading its rating from "buy" to "neutral" and setting a target price of $39.00.
• Atmus Filtration Technologies recently announced an increase in its quarterly dividend to $0.055 per share, reflecting a yield of 0.5% and a dividend payout ratio of 9.73%.

Goldman Sachs Group Inc. lowered its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,004,759 shares of the company's stock after selling 343,222 shares during the quarter. Goldman Sachs Group Inc. owned approximately 3.64% of Atmus Filtration Technologies worth $110,365,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ATMU. Eminence Capital LP boosted its position in Atmus Filtration Technologies by 25.4% during the first quarter. Eminence Capital LP now owns 5,757,054 shares of the company's stock valued at $211,457,000 after purchasing an additional 1,164,440 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Atmus Filtration Technologies by 24.5% in the 1st quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company's stock valued at $89,094,000 after buying an additional 478,018 shares in the last quarter. Invesco Ltd. grew its position 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 worth $79,258,000 after buying an additional 990,468 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position 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 worth $61,633,000 after buying an additional 45,806 shares during the last quarter. Finally, Nuveen LLC bought a new position in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $48,966,000. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Performance

Shares of NYSE:ATMU traded up $0.04 during midday trading on Monday, reaching $46.41. The company's stock had a trading volume of 771,303 shares, compared to its average volume of 694,964. 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 stock has a fifty day moving average of $41.56 and a 200 day moving average of $38.02. Atmus Filtration Technologies Inc. has a twelve month low of $30.94 and a twelve month high of $47.10. The firm has a market capitalization of $3.81 billion, a PE ratio of 20.54, a P/E/G ratio of 5.58 and a beta of 1.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its 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. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The firm had revenue of $453.50 million for the quarter, compared to analyst estimates of $433.51 million. During the same period last year, the company earned $0.71 earnings per share. Atmus Filtration Technologies'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, equities analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th were given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is currently 9.73%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ATMU. 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 Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. Robert W. Baird increased their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. 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 note on Tuesday, July 1st. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $46.00 price objective (up from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus 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.