William Blair Investment Management LLC Sells 62,808 Shares of Atmus Filtration Technologies Inc. $ATMU

Key Points

• William Blair Investment Management LLC reduced its stake in Atmus Filtration Technologies Inc. by 7.3%, selling 62,808 shares, and now holds 0.96% of the company's shares worth approximately $29 million.
• Atmus Filtration Technologies has received various analyst upgrades, with a consensus rating of "Moderate Buy" and a price target of $45.60 among research firms.
• The company declared a quarterly dividend of $0.055 per share, representing a yield of 0.5%, following an increase from the previous dividend of $0.05.

William Blair Investment Management LLC cut its stake in Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) by 7.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 797,283 shares of the company's stock after selling 62,808 shares during the period. William Blair Investment Management LLC owned 0.96% of Atmus Filtration Technologies worth $29,037,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of ATMU. SG Americas Securities LLC acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $324,000. Oppenheimer Asset Management Inc. grew its position in shares of Atmus Filtration Technologies by 12.2% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 13,585 shares of the company's stock worth $499,000 after buying an additional 1,482 shares during the period. Perpetual Ltd acquired a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $419,000. Jag Capital Management LLC grew its position in shares of Atmus Filtration Technologies by 22.4% during the 1st quarter. Jag Capital Management LLC now owns 9,370 shares of the company's stock worth $344,000 after buying an additional 1,717 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its position in shares of Atmus Filtration Technologies by 10.8% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,132,542 shares of the company's stock worth $42,142,000 after buying an additional 110,841 shares during the period. Institutional investors and hedge funds own 32.73% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wall Street Zen upgraded shares of Atmus Filtration Technologies from a "buy" rating to a "strong-buy" rating in a research report on Saturday, September 20th. Weiss Ratings restated a "buy (b-)" rating on shares of Atmus Filtration Technologies in a report on Wednesday, October 8th. Wells Fargo & Company boosted their price objective on shares of Atmus Filtration Technologies from $42.00 to $47.00 and gave the company an "equal weight" rating in a report on Thursday, September 18th. JPMorgan Chase & Co. boosted their price objective on shares of Atmus Filtration Technologies from $46.00 to $47.00 and gave the company a "neutral" rating in a report on Tuesday, October 14th. Finally, Robert W. Baird boosted their price objective on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an "outperform" rating in a report on Monday, August 11th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Atmus Filtration Technologies currently has a consensus rating of "Moderate Buy" and a consensus price target of $45.60.

Atmus Filtration Technologies Stock Down 0.9%

Atmus Filtration Technologies stock opened at $44.00 on Monday. The stock has a market capitalization of $3.61 billion, a PE ratio of 19.47, a price-to-earnings-growth ratio of 5.29 and a beta of 1.63. Atmus Filtration Technologies Inc. has a twelve month low of $30.94 and a twelve month high of $47.10. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75. The company has a 50 day moving average of $44.70 and a 200-day moving average of $39.26.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings results on Friday, August 8th. The company reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The company had revenue of $453.50 million during the quarter, compared to analysts' expectations of $433.51 million. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The business's quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.71 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.400-2.600 EPS. On average, 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 business also recently declared a quarterly dividend, which was paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th were issued a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. This is a boost from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date was Tuesday, August 26th. Atmus Filtration Technologies's dividend payout ratio is currently 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.

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