Goldman Sachs Group Inc. Trims Stock Holdings 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. decreased its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 10.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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 3.64% of Atmus Filtration Technologies worth $110,365,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Xponance Inc. lifted its position in Atmus Filtration Technologies by 5.6% in the 1st quarter. Xponance Inc. now owns 6,792 shares of the company's stock worth $249,000 after buying an additional 358 shares during the last quarter. Hohimer Wealth Management LLC lifted its position in Atmus Filtration Technologies by 4.5% in the 1st quarter. Hohimer Wealth Management LLC now owns 9,053 shares of the company's stock worth $333,000 after buying an additional 386 shares during the last quarter. Jones Financial Companies Lllp lifted its position in Atmus Filtration Technologies by 143.1% in the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock valued at $26,000 after purchasing an additional 412 shares during the last quarter. SouthState Corp bought a new stake in Atmus Filtration Technologies in the first quarter valued at approximately $27,000. Finally, Gabelli Funds LLC lifted its position in Atmus Filtration Technologies by 3.9% in the first quarter. Gabelli Funds LLC now owns 26,500 shares of the company's stock valued at $973,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors own 32.73% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ATMU. The Goldman Sachs Group downgraded 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Wall Street Zen downgraded Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. Wells Fargo & Company boosted their price objective on Atmus Filtration Technologies from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday. Finally, Robert W. Baird boosted 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. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $45.40.

Atmus Filtration Technologies Trading Up 1.5%

Shares of Atmus Filtration Technologies stock traded up $0.67 during midday trading on Thursday, reaching $46.50. 1,116,800 shares of the company's stock traded hands, compared to its average volume of 669,804. 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 company has a market cap of $3.82 billion, a PE ratio of 20.58, a price-to-earnings-growth ratio of 5.51 and a beta of 1.65. The stock has a 50 day moving average of $42.02 and a 200-day moving average of $38.19. Atmus Filtration Technologies Inc. has a 12 month low of $30.94 and a 12 month high of $47.10.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced 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. The company had revenue of $453.50 million during the quarter, compared to the consensus estimate 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 for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, 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 declared a quarterly dividend, which was paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th were paid a $0.055 dividend. The ex-dividend date of this dividend was Tuesday, August 26th. This is a positive change from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 annualized dividend and a yield of 0.5%. Atmus Filtration Technologies's payout ratio is currently 9.73%.

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.