Livforsakringsbolaget Skandia Omsesidigt Cuts Stock Position in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has reduced its holdings in Atmus Filtration Technologies Inc. by 98.9%, now owning only 800 shares after selling 74,700 shares in the second quarter.
• Wall Street analysts have mixed views on Atmus, with target price adjustments ranging from $39.00 to $46.00, while the company has an average rating of "Hold" and a consensus price target of $43.80.
• Atmus Filtration Technologies recently announced an increase in its quarterly dividend from $0.05 to $0.055 per share, reflecting a dividend yield of 0.5%.

Livforsakringsbolaget Skandia Omsesidigt lowered its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 98.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 800 shares of the company's stock after selling 74,700 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt's holdings in Atmus Filtration Technologies were worth $29,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Jones Financial Companies Lllp grew its position in Atmus Filtration Technologies by 143.1% in the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after purchasing an additional 412 shares during the last quarter. SouthState Corp purchased a new stake in Atmus Filtration Technologies in the 1st quarter worth approximately $27,000. Strs Ohio bought a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at $121,000. Freedom Investment Management Inc. bought a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at $225,000. Finally, Wexford Capital LP bought a new position in Atmus Filtration Technologies in the 4th quarter worth $242,000. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Trading Up 1.5%

Shares of NYSE:ATMU traded up $0.67 during trading on Thursday, reaching $46.50. The stock had a trading volume of 1,116,800 shares, compared to its average volume of 669,804. The firm's fifty day moving average is $42.02 and its 200 day moving average is $38.19. 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 Inc. has a 52 week low of $30.94 and a 52 week high of $47.10. The stock has a market cap of $3.82 billion, a price-to-earnings ratio of 20.58, a P/E/G ratio of 5.51 and a beta of 1.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $453.50 million for the quarter, compared to the consensus estimate of $433.51 million. During the same quarter in the prior year, the company posted $0.71 earnings per share. The business's revenue was up 4.8% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, equities analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th were paid a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. 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. Atmus Filtration Technologies's payout ratio is presently 9.73%.

Analyst Ratings Changes

Several brokerages have recently weighed in on ATMU. Wall Street Zen lowered shares of 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 target price on shares of Atmus Filtration Technologies from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday. Robert W. Baird boosted their price target on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research note on Monday, August 11th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $46.00 target price (up previously from $44.00) on shares of Atmus Filtration Technologies in a research note on Wednesday, August 20th. Finally, The Goldman Sachs Group downgraded shares of 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. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $45.40.

About Atmus Filtration Technologies

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.