Jacobs Levy Equity Management Inc. Decreases Stake in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Jacobs Levy Equity Management Inc. significantly reduced its stake in Atmus Filtration Technologies by 65.9% in the first quarter, owning approximately 615,938 shares worth about $22.6 million after selling over 1.1 million shares.
• Analysts have varied opinions on Atmus Filtration Technologies, with Wells Fargo raising its target price from $37 to $39, while Goldman Sachs downgraded their rating from "buy" to "neutral" at a target price of $39.
• Atmus Filtration Technologies recently reported better-than-expected quarterly earnings, with a net margin of 11.22% and a proposed increase in their dividend from $0.05 to $0.055 per share.

Jacobs Levy Equity Management Inc. trimmed its position in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 65.9% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 615,938 shares of the company's stock after selling 1,189,890 shares during the quarter. Jacobs Levy Equity Management Inc. owned 0.75% of Atmus Filtration Technologies worth $22,623,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ATMU. Eminence Capital LP raised its holdings in shares of Atmus Filtration Technologies by 25.4% in 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 during the last quarter. Wellington Management Group LLP raised its holdings in shares of Atmus Filtration Technologies by 24.5% in the first quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company's stock valued at $89,094,000 after purchasing an additional 478,018 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Atmus Filtration Technologies by 84.8% in the first 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. raised its holdings in shares of Atmus Filtration Technologies by 44.0% in the fourth 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. Finally, T. Rowe Price Investment Management Inc. raised its holdings in shares of Atmus Filtration Technologies by 2.8% in the first 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. Hedge funds and other institutional investors own 32.73% of the company's stock.

Analyst Ratings Changes

A number of research analysts have issued reports on ATMU shares. Wells Fargo & Company upped their price objective on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a research note on Tuesday, July 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $46.00 price target (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Robert W. Baird upped their price target 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. The Goldman Sachs Group cut Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target on the stock. in a research report on Tuesday, May 27th. Finally, Wall Street Zen cut Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $43.80.

Atmus Filtration Technologies Price Performance

NYSE:ATMU traded down $0.10 during mid-day trading on Friday, reaching $46.60. The stock had a trading volume of 140,091 shares, compared to its average volume of 789,080. The firm has a 50 day moving average price of $41.22 and a two-hundred day moving average price of $37.94. The stock has a market capitalization of $3.83 billion, a P/E ratio of 20.62, a P/E/G ratio of 5.48 and a beta of 1.65. Atmus Filtration Technologies Inc. has a one year low of $30.94 and a one year high of $46.82. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15.

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, topping 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%.Atmus Filtration Technologies's quarterly revenue 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. As a group, analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Increases Dividend

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

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.