The Manufacturers Life Insurance Company Boosts Stake in Atmus Filtration Technologies Inc. $ATMU

Key Points

• The Manufacturers Life Insurance Company increased its stake in Atmus Filtration Technologies by 1.9%, owning a total of 1,331,915 shares worth approximately $48.9 million.
• Atmus Filtration Technologies recently reported a quarterly earnings per share of $0.75, surpassing the expected $0.66, with a net margin of 11.22% and revenue growth of 4.8% year-over-year.
• The company declared a quarterly dividend of $0.055 per share, up from the previous $0.05, translating to an annualized yield of 0.5% and a payout ratio of 9.73%.

The Manufacturers Life Insurance Company boosted its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 1.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,331,915 shares of the company's stock after purchasing an additional 25,167 shares during the quarter. The Manufacturers Life Insurance Company owned about 1.61% of Atmus Filtration Technologies worth $48,921,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ATMU. State of Wyoming grew its holdings in shares of Atmus Filtration Technologies by 62.0% during the first quarter. State of Wyoming now owns 10,624 shares of the company's stock valued at $390,000 after buying an additional 4,064 shares during the last quarter. Tema Etfs LLC grew its holdings in shares of Atmus Filtration Technologies by 35.2% during the first quarter. Tema Etfs LLC now owns 153,177 shares of the company's stock valued at $5,626,000 after buying an additional 39,845 shares during the last quarter. Gabelli Funds LLC grew its holdings in shares of Atmus Filtration Technologies by 3.9% during the first quarter. Gabelli Funds LLC now owns 26,500 shares of the company's stock valued at $973,000 after buying an additional 1,000 shares during the last quarter. Freedom Investment Management Inc. acquired a new position in shares of Atmus Filtration Technologies during the first quarter valued at about $225,000. Finally, AlphaQuest LLC grew its holdings in shares of Atmus Filtration Technologies by 45.0% during the first quarter. AlphaQuest LLC now owns 18,582 shares of the company's stock valued at $683,000 after buying an additional 5,768 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Performance

Shares of NYSE:ATMU traded up $0.46 during mid-day trading on Friday, reaching $46.04. The company had a trading volume of 542,694 shares, compared to its average volume of 876,910. The company has a current ratio of 2.15, a quick ratio of 1.43 and a debt-to-equity ratio of 1.75. The firm has a market cap of $3.78 billion, a price-to-earnings ratio of 20.37, a PEG ratio of 5.54 and a beta of 1.65. The company's 50-day moving average price is $40.52 and its 200-day moving average price is $37.73. Atmus Filtration Technologies Inc. has a one year low of $30.94 and a one year high of $46.39.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The company had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. During the same quarter in the previous year, the firm posted $0.71 EPS. Atmus Filtration Technologies's revenue 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. As a group, equities research analysts anticipate 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 will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be given a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date of this dividend is Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is presently 9.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $46.00 price objective (up from $44.00) on shares of Atmus Filtration Technologies in a report on Wednesday, August 20th. 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 research report on Tuesday, July 1st. Robert W. Baird raised their price target on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a research report on Monday, August 11th. Wall Street Zen lowered 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 target on the stock. in a research report on Tuesday, May 27th. 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 MarketBeat, the stock 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.