Sandler Capital Management Reduces Stake in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Sandler Capital Management significantly reduced its holdings in Atmus Filtration Technologies by 58.3%, decreasing its share count from 94,285 to 39,355 during the 1st quarter.
• Several hedge funds increased their stakes in Atmus Filtration Technologies, with Xponance Inc. boosting its holdings by 5.6%, indicating ongoing institutional interest despite Sandler's cut.
• Atmus Filtration Technologies declared a quarterly dividend increase from $0.05 to $0.055, reflecting a positive change in its dividend policy.

Sandler Capital Management lessened its holdings in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 58.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 39,355 shares of the company's stock after selling 54,930 shares during the period. Sandler Capital Management's holdings in Atmus Filtration Technologies were worth $1,446,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. SouthState Corp acquired a new position in Atmus Filtration Technologies during the 1st quarter worth about $27,000. Tower Research Capital LLC TRC lifted 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 acquiring an additional 1,022 shares in the last quarter. Freedom Investment Management Inc. acquired a new position in Atmus Filtration Technologies during the 1st quarter worth about $225,000. Wexford Capital LP acquired a new position in Atmus Filtration Technologies during the 4th quarter worth about $242,000. Finally, State of Wyoming lifted its stake in Atmus Filtration Technologies by 31.9% during the 4th quarter. State of Wyoming now owns 6,560 shares of the company's stock worth $257,000 after acquiring an additional 1,587 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on ATMU. Wall Street Zen lowered Atmus Filtration Technologies from a "strong-buy" rating to a "buy" rating in a research note on Sunday, August 24th. Robert W. Baird increased their target price 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. Wells Fargo & Company increased their price target on Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an "equal weight" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group lowered Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target on the stock. in a research report on Tuesday, May 27th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $46.00 price target (up previously from $44.00) on shares of Atmus Filtration Technologies in a research report on Wednesday, August 20th. Two 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 stock presently has an average rating of "Hold" and a consensus price target of $43.80.

Atmus Filtration Technologies Stock Down 1.7%

ATMU stock traded down $0.77 during mid-day trading on Tuesday, reaching $45.42. The company had a trading volume of 704,652 shares, compared to its average volume of 778,912. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 20.10, a price-to-earnings-growth ratio of 5.56 and a beta of 1.65. The firm has a fifty day simple moving average of $40.88 and a 200 day simple moving average of $37.83. Atmus Filtration Technologies Inc. has a fifty-two week low of $30.94 and a fifty-two week high of $46.53.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates 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 business 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 business posted $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. Analysts forecast that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Tuesday, August 26th. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's dividend payout ratio (DPR) is currently 9.73%.

Atmus Filtration Technologies Company 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.