Voya Investment Management LLC Cuts Holdings in Atmus Filtration Technologies Inc. $ATMU

Key Points

• Voya Investment Management LLC has reduced its stake in Atmus Filtration Technologies by 10.6% in the first quarter, owning now 0.12% of the company, valued at approximately $3.76 million.
• Analyst ratings are mixed, with Wells Fargo raising its target price to $47.00, while Goldman Sachs downgraded to neutral with a target of $39.00.
• Atmus Filtration Technologies recently increased its quarterly dividend to $0.055, reflecting a dividend yield of 0.5% and a payout ratio of 9.73%.

Voya Investment Management LLC lowered its position in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 10.6% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 102,334 shares of the company's stock after selling 12,181 shares during the period. Voya Investment Management LLC owned 0.12% of Atmus Filtration Technologies worth $3,759,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Jones Financial Companies Lllp raised its position in shares of Atmus Filtration Technologies by 143.1% during the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after purchasing an additional 412 shares during the period. SouthState Corp bought a new stake in Atmus Filtration Technologies during the 1st quarter valued at $27,000. Strs Ohio acquired a new position in shares of Atmus Filtration Technologies during the first quarter valued at about $121,000. Freedom Investment Management Inc. acquired a new position in shares of Atmus Filtration Technologies during the first quarter valued at about $225,000. Finally, State of Wyoming grew its holdings in shares of Atmus Filtration Technologies by 31.9% during the fourth quarter. State of Wyoming now owns 6,560 shares of the company's stock valued at $257,000 after buying an additional 1,587 shares during the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ATMU has been the topic of several recent research reports. Wells Fargo & Company raised their price target on shares of Atmus Filtration Technologies from $42.00 to $47.00 and gave the company an "equal weight" rating in a research report on Thursday, September 18th. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a report on Tuesday, May 27th. Robert W. Baird upped their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a report on Monday, August 11th. Wall Street Zen raised shares of Atmus Filtration Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday. Finally, 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 research note on Wednesday, August 20th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, Atmus Filtration Technologies has an average rating of "Hold" and a consensus price target of $45.40.

Atmus Filtration Technologies Price Performance

NYSE ATMU traded up $0.43 during trading hours on Tuesday, hitting $46.45. The company had a trading volume of 51,681 shares, compared to its average volume of 793,877. Atmus Filtration Technologies Inc. has a 52 week low of $30.94 and a 52 week high of $47.10. The firm has a 50 day simple moving average of $42.36 and a 200 day simple moving average of $38.33. 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 firm has a market capitalization of $3.82 billion, a price-to-earnings ratio of 20.49, a PEG ratio of 5.53 and a beta of 1.65.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings results on Friday, August 8th. The company reported $0.75 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. The firm had revenue of $453.50 million for the quarter, compared to the consensus estimate of $433.51 million. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The company's revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. Equities research analysts expect 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 disclosed a quarterly dividend, which was paid on Wednesday, September 10th. Investors 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 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend was Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio is 9.73%.

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.