Northern Trust Corp Reduces Holdings in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Northern Trust Corp has reduced its holdings in Atmus Filtration Technologies by 2.4%, owning 808,226 shares worth approximately $29.7 million after selling 20,031 shares in the first quarter.
• Atmus Filtration Technologies has recently declared an increase in its quarterly dividend from $0.05 to $0.055, with a 0.5% yield based on the annualized payout.
• The company's latest earnings report showed a profit of $0.75 per share, exceeding analysts' expectations of $0.66, alongside a revenue of $453.5 million for the quarter.

Northern Trust Corp trimmed its holdings in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 808,226 shares of the company's stock after selling 20,031 shares during the quarter. Northern Trust Corp owned 0.98% of Atmus Filtration Technologies worth $29,686,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. SouthState Corp acquired a new stake in Atmus Filtration Technologies in the 1st quarter worth about $27,000. Tower Research Capital LLC TRC grew its stake in Atmus Filtration Technologies by 295.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock worth $54,000 after buying an additional 1,022 shares during the last quarter. Wexford Capital LP purchased a new stake in Atmus Filtration Technologies during the 4th quarter valued at approximately $242,000. Caption Management LLC purchased a new stake in Atmus Filtration Technologies in the 4th quarter valued at approximately $251,000. Finally, State of Wyoming increased its holdings in Atmus Filtration Technologies by 31.9% in the fourth quarter. State of Wyoming now owns 6,560 shares of the company's stock valued at $257,000 after buying an additional 1,587 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Stock Down 0.3%

NYSE ATMU traded down $0.15 during mid-day trading on Friday, hitting $45.43. The company's stock had a trading volume of 119,048 shares, compared to its average volume of 789,935. The firm has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.09, a PEG ratio of 5.38 and a beta of 1.65. Atmus Filtration Technologies Inc. has a twelve month low of $30.94 and a twelve month high of $46.39. The company's 50 day simple moving average is $40.31 and its 200 day simple moving average is $37.70. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The company had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The business's revenue for the quarter was up 4.8% compared to the same quarter last year. During the same period in the previous year, the business posted $0.71 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts anticipate that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Increases Dividend

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Wall Street Zen downgraded shares of Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a report on Sunday, August 24th. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 target price for the company. in a report on Tuesday, May 27th. JPMorgan Chase & Co. restated a "neutral" rating and set a $46.00 price target (up from $44.00) on shares of Atmus Filtration Technologies in a 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 stock an "outperform" rating in a research note on Monday, August 11th. Finally, Wells Fargo & Company increased their price target on shares of Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $43.80.

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.