Invesco Ltd. Buys 990,468 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• Invesco Ltd. has increased its holdings in Atmus Filtration Technologies by 84.8%, now owning over 2.15 million shares valued at approximately $79.3 million.
• Atmus Filtration Technologies reported a better-than-expected EPS of $0.75 in its recent earnings, exceeding the consensus estimate of $0.66 and reflecting a 4.8% increase in revenue year-over-year.
• The company announced a quarterly dividend increase to $0.055 per share, up from $0.05, with a dividend yield of 0.5%.

Invesco Ltd. boosted its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 84.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,157,850 shares of the company's stock after purchasing an additional 990,468 shares during the quarter. Invesco Ltd. owned about 2.61% of Atmus Filtration Technologies worth $79,258,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Deutsche Bank AG raised its stake in Atmus Filtration Technologies by 70.7% during the 1st quarter. Deutsche Bank AG now owns 221,686 shares of the company's stock valued at $8,143,000 after purchasing an additional 91,780 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Atmus Filtration Technologies by 6.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 799,222 shares of the company's stock valued at $29,355,000 after purchasing an additional 45,727 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Atmus Filtration Technologies by 6.1% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 24,439 shares of the company's stock valued at $898,000 after purchasing an additional 1,411 shares during the period. TD Asset Management Inc raised its stake in Atmus Filtration Technologies by 6.1% during the 1st quarter. TD Asset Management Inc now owns 55,808 shares of the company's stock valued at $2,050,000 after purchasing an additional 3,208 shares during the period. Finally, Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Atmus Filtration Technologies during the 1st quarter valued at approximately $4,384,000. Institutional investors own 32.73% of the company's stock.

Analyst Ratings Changes

ATMU has been the topic of several recent analyst reports. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price on the stock. in a research note on Tuesday, May 27th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $46.00 target price (up previously from $44.00) on shares of Atmus Filtration Technologies in a research note on Wednesday. Wall Street Zen raised Atmus Filtration Technologies from a "hold" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Wells Fargo & Company upped their price objective on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a report on Tuesday, July 1st. Finally, Robert W. Baird upped their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Two investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of "Hold" and an average target price of $43.80.

Atmus Filtration Technologies Trading Down 0.0%

Shares of NYSE ATMU traded down $0.0020 during trading hours on Thursday, hitting $42.3080. 746,676 shares of the company traded hands, compared to its average volume of 876,581. The stock has a market capitalization of $3.48 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 5.09 and a beta of 1.64. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75. The company's 50 day moving average price is $38.54 and its 200 day moving average price is $37.42. Atmus Filtration Technologies Inc. has a 12 month low of $30.94 and a 12 month high of $45.92.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $453.50 million for 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 company's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.71 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, equities research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a dividend of $0.055 per share. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's dividend payout ratio is presently 8.85%.

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.