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 reduced its stake in shares of Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent Form 13F filing 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 approximately 5.3% of Parsifal Capital Management LP's portfolio, making the stock its 6th largest position. Parsifal Capital Management LP owned about 2.02% of Atmus Filtration Technologies worth $61,308,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in ATMU. Tower Research Capital LLC TRC increased its stake in shares of 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 purchasing an additional 1,022 shares during the last quarter. Northern Trust Corp increased its stake in shares of Atmus Filtration Technologies by 12.3% during the 4th quarter. Northern Trust Corp now owns 828,257 shares of the company's stock worth $32,451,000 after purchasing an additional 90,595 shares during the last quarter. Comerica Bank increased its stake in shares of Atmus Filtration Technologies by 118.4% during the 4th quarter. Comerica Bank now owns 42,522 shares of the company's stock worth $1,666,000 after purchasing an additional 23,052 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in shares of Atmus Filtration Technologies during the 4th quarter worth $11,588,000. Finally, Captrust Financial Advisors grew its holdings in Atmus Filtration Technologies by 11.8% during the fourth quarter. Captrust Financial Advisors now owns 9,991 shares of the company's stock valued at $391,000 after purchasing an additional 1,053 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Price Performance

NYSE:ATMU traded down $0.77 during trading hours on Tuesday, reaching $45.42. The company had a trading volume of 704,652 shares, compared to its average volume of 778,912. The stock has a 50-day moving average of $40.88 and a two-hundred day moving average of $37.83. Atmus Filtration Technologies Inc. has a one year low of $30.94 and a one year high of $46.53. The firm has a market capitalization of $3.73 billion, a PE ratio of 20.10, a PEG ratio of 5.56 and a beta of 1.65. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The firm 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 was up 4.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. Analysts forecast 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 disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be paid a $0.055 dividend. This is an increase 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%. The ex-dividend date of this dividend is Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is presently 9.73%.

Analyst Upgrades and Downgrades

ATMU has been the topic of several analyst reports. Robert W. Baird increased their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. 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 downgraded shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a report on Tuesday, May 27th. Wells Fargo & Company increased their price target on shares of Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $43.80.

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.