Parsifal Capital Management LP Sells 512,539 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• Parsifal Capital Management LP has reduced its holdings in Atmus Filtration Technologies (NYSE:ATMU) by 23.5%, selling 512,539 shares during the first quarter.
• Atmus Filtration Technologies reported earnings per share of $0.75 in its quarterly results, exceeding analysts' expectations of $0.66, alongside a revenue increase of 4.8% year-over-year.
• The company has announced a quarterly dividend increase from $0.05 to $0.055, with the payment set for September 10th, representing a modest 0.5% dividend yield.

Parsifal Capital Management LP cut its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 23.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,669,155 shares of the company's stock after selling 512,539 shares during the quarter. Atmus Filtration Technologies makes up 5.3% of Parsifal Capital Management LP's portfolio, making the stock its 6th largest holding. Parsifal Capital Management LP owned about 2.02% of Atmus Filtration Technologies worth $61,308,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in ATMU. Teachers Retirement System of The State of Kentucky acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth about $876,000. SG Americas Securities LLC bought a new stake in Atmus Filtration Technologies during the first quarter worth about $324,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Atmus Filtration Technologies by 12.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 13,585 shares of the company's stock worth $499,000 after buying an additional 1,482 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Atmus Filtration Technologies by 91.1% during the fourth quarter. Millennium Management LLC now owns 186,912 shares of the company's stock worth $7,323,000 after buying an additional 89,107 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new position in shares of Atmus Filtration Technologies in the fourth quarter valued at approximately $260,000. Institutional investors and hedge funds own 32.73% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ATMU. Robert W. Baird increased their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Wells Fargo & Company increased their target price 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. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $46.00 price target (up from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. Wall Street Zen downgraded shares of Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 24th. Finally, The Goldman Sachs Group lowered shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective on the stock. in a report on Tuesday, May 27th. 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, Atmus Filtration Technologies has a consensus rating of "Hold" and a consensus price target of $43.80.

Atmus Filtration Technologies Trading Up 2.6%

Shares of ATMU stock traded up $1.17 on Thursday, reaching $46.68. 681,269 shares of the stock were exchanged, compared to its average volume of 792,944. The company has a debt-to-equity ratio of 1.75, a current ratio of 2.15 and a quick ratio of 1.43. Atmus Filtration Technologies Inc. has a one year low of $30.94 and a one year high of $46.72. The stock has a market cap of $3.83 billion, a PE ratio of 20.65, a P/E/G ratio of 5.47 and a beta of 1.65. The stock has a 50 day moving average price of $41.04 and a 200 day moving average price of $37.88.

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

Atmus Filtration Technologies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th were given a dividend of $0.055 per share. The ex-dividend date was Tuesday, August 26th. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. 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%.

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.