T. Rowe Price Investment Management Inc. Has $61.63 Million Position in Atmus Filtration Technologies Inc. $ATMU

Key Points

• T. Rowe Price Investment Management Inc. has increased its stake in Atmus Filtration Technologies by 2.8%, now owning approximately 1.68 million shares worth about $61.6 million.
• Analysts have varying opinions on Atmus, with Robert W. Baird raising its price target to $45.00 while Goldman Sachs downgraded it to a "neutral" rating with a price target of $39.00.
• Atmus declared a quarterly dividend of $0.055 per share, reflecting a rise from its previous dividend amount, contributing to an annualized dividend yield of 0.5%.

T. Rowe Price Investment Management Inc. raised its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 2.8% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,677,985 shares of the company's stock after purchasing an additional 45,806 shares during the quarter. T. Rowe Price Investment Management Inc. owned about 2.03% of Atmus Filtration Technologies worth $61,633,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Eminence Capital LP raised its holdings in shares of Atmus Filtration Technologies by 79.0% in the 4th quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock worth $179,939,000 after purchasing an additional 2,027,617 shares during the period. Nuveen LLC acquired a new position in Atmus Filtration Technologies during the first quarter valued at approximately $48,966,000. Invesco Ltd. grew its stake in Atmus Filtration Technologies by 84.8% during the first quarter. Invesco Ltd. now owns 2,157,850 shares of the company's stock worth $79,258,000 after buying an additional 990,468 shares during the period. D. E. Shaw & Co. Inc. grew its stake in 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 worth $74,879,000 after buying an additional 584,270 shares during the period. Finally, Wellington Management Group LLP grew its stake in 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 worth $89,094,000 after buying an additional 478,018 shares during the period. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Performance

ATMU traded down $0.24 during trading on Thursday, reaching $44.33. 99,947 shares of the company were exchanged, compared to its average volume of 792,781. Atmus Filtration Technologies Inc. has a 52 week low of $30.94 and a 52 week high of $45.92. The stock has a market cap of $3.64 billion, a P/E ratio of 19.59, a PEG ratio of 5.30 and a beta of 1.64. The firm has a 50 day moving average of $39.24 and a 200 day moving average of $37.51. 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 posted its quarterly earnings data 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 the consensus estimate of $433.51 million. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The company's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.71 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, sell-side 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 announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors 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 payout ratio is presently 9.73%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. 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. Robert W. Baird upped their target price on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research note on Monday, August 11th. Wells Fargo & Company raised 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. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $46.00 price objective (up previously from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. 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 issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price 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.