Atmus Filtration Technologies Inc. $ATMU Stock Position Decreased by Price T Rowe Associates Inc. MD

Key Points

• Price T Rowe Associates Inc. has cut its holdings in Atmus Filtration Technologies by 50.2%, now owning approximately 2.57% of the company worth about $77.99 million.
• Several analysts have recently revised their ratings, with Goldman Sachs downgrading to "neutral" and Robert W. Baird raising its price objective from $41 to $45.
• Atmus Filtration Technologies has announced an increase in its quarterly dividend to $0.055, up from $0.05, with a yield of 0.5%.

Price T Rowe Associates Inc. MD decreased its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 50.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,123,377 shares of the company's stock after selling 2,139,031 shares during the quarter. Price T Rowe Associates Inc. MD owned about 2.57% of Atmus Filtration Technologies worth $77,993,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Eminence Capital LP lifted its holdings in shares of Atmus Filtration Technologies by 79.0% during the fourth quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock valued at $179,939,000 after purchasing an additional 2,027,617 shares during the last quarter. Nuveen LLC purchased a new stake in shares of Atmus Filtration Technologies during the first quarter valued at $48,966,000. Invesco Ltd. lifted its holdings in shares of Atmus Filtration Technologies by 84.8% during 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. lifted its holdings in shares of Atmus Filtration Technologies by 44.0% during 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, Wellington Management Group LLP lifted its holdings in shares of Atmus Filtration Technologies by 24.5% during 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. Institutional investors and hedge funds own 32.73% of the company's stock.

Atmus Filtration Technologies Stock Down 0.0%

Atmus Filtration Technologies stock traded down $0.02 during mid-day trading on Thursday, hitting $44.54. The company's stock had a trading volume of 482,605 shares, compared to its average volume of 914,458. The firm's 50 day moving average is $39.42 and its 200 day moving average is $37.54. The company has a market cap of $3.66 billion, a PE ratio of 19.71, a price-to-earnings-growth ratio of 5.36 and a beta of 1.64. 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 52-week low of $30.94 and a 52-week high of $45.92.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data on Friday, August 8th. The company reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.09. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The firm had revenue of $453.50 million during the quarter, compared to the consensus estimate of $433.51 million. During the same period in the prior year, the business earned $0.71 EPS. The business's revenue for the quarter 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. On average, analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a dividend of $0.055 per share. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, August 26th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. Atmus Filtration Technologies's dividend payout ratio (DPR) is 9.73%.

Wall Street Analysts Forecast Growth

ATMU has been the subject of several analyst reports. Wells Fargo & Company upped their target price on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a report on Tuesday, July 1st. JPMorgan Chase & Co. reaffirmed a "neutral" rating and set a $46.00 target price (up from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. Robert W. Baird upped their target price on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. The Goldman Sachs Group downgraded 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. Finally, Wall Street Zen downgraded Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company 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.