Vest Financial LLC Purchases 35,532 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• Vest Financial LLC significantly increased its stake in Atmus Filtration Technologies by 170.2% during Q2, growing its total shares to 56,411 valued at approximately $2.05 million.
• Wall Street analysts have shown a positive outlook for Atmus, with ratings ranging from "buy" to "strong-buy," and a consensus price target of $45.60.
• Atmus recently announced an increase in its quarterly dividend to $0.055 per share, which reflects a positive change and a 0.5% dividend yield for investors.

Vest Financial LLC lifted its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 170.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 56,411 shares of the company's stock after buying an additional 35,532 shares during the period. Vest Financial LLC owned approximately 0.07% of Atmus Filtration Technologies worth $2,054,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Eminence Capital LP raised its position in shares of Atmus Filtration Technologies by 25.4% in the first quarter. Eminence Capital LP now owns 5,757,054 shares of the company's stock valued at $211,457,000 after buying an additional 1,164,440 shares during the last quarter. Wellington Management Group LLP grew its position in Atmus Filtration Technologies by 24.5% in the 1st quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company's stock valued at $89,094,000 after buying an additional 478,018 shares during the last quarter. Invesco Ltd. boosted its position in shares of Atmus Filtration Technologies by 84.8% in the 1st 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 in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Atmus Filtration Technologies by 2.8% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 1,677,985 shares of the company's stock valued at $61,633,000 after purchasing an additional 45,806 shares during the last quarter. Finally, Nuveen LLC purchased a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth about $48,966,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on ATMU shares. Wall Street Zen raised Atmus Filtration Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. JPMorgan Chase & Co. boosted their target price on Atmus Filtration Technologies from $46.00 to $47.00 and gave the stock a "neutral" rating in a research report on Tuesday. Robert W. Baird upped their price objective on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday, August 11th. Wells Fargo & Company increased their target price on Atmus Filtration Technologies from $42.00 to $47.00 and gave the stock an "equal weight" rating in a research note on Thursday, September 18th. Finally, Weiss Ratings restated a "buy (b-)" rating on shares of Atmus Filtration Technologies in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $45.60.

Atmus Filtration Technologies Trading Up 2.8%

Shares of ATMU stock opened at $44.36 on Wednesday. The stock has a market capitalization of $3.64 billion, a price-to-earnings ratio of 19.63, a PEG ratio of 5.19 and a beta of 1.63. Atmus Filtration Technologies Inc. has a 1 year low of $30.94 and a 1 year high of $47.10. The company's fifty day simple moving average is $44.39 and its two-hundred day simple moving average is $39.08. 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 (NYSE:ATMU - Get Free Report) last released its earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, beating analysts' consensus estimates of $0.66 by $0.09. The business 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 firm's revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. As a group, analysts anticipate 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 announced a quarterly dividend, which was paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th were paid a dividend of $0.055 per share. This is a positive change from Atmus Filtration Technologies's previous quarterly dividend of $0.05. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Atmus Filtration Technologies's payout ratio is 9.73%.

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.

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