Atmus Filtration Technologies (NYSE:ATMU) Stock Rating Upgraded by Wall Street Zen

Key Points

• Atmus Filtration Technologies (NYSE:ATMU) has been upgraded by Wall Street Zen from a "hold" rating to a "strong-buy" rating, indicating growing confidence among analysts.
• Despite this upgrade, Goldman Sachs has lowered its rating from "buy" to "neutral" with a price target of $39.00, while other analysts have mixed views with targets ranging from $39.00 to $45.00.
• Atmus reported earnings of $0.75 per share, exceeding estimates and showing a revenue increase of 4.8% year-over-year, with a consensus rating of "Moderate Buy" among analysts.

Wall Street Zen upgraded shares of Atmus Filtration Technologies (NYSE:ATMU - Free Report) from a hold rating to a strong-buy rating in a research report sent to investors on Saturday morning.

ATMU has been the subject of a number of other reports. JPMorgan Chase & Co. raised their price objective on Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an "overweight" rating in a research report on Monday, May 5th. The Goldman Sachs Group downgraded Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price objective for the company. in a research report on Tuesday, May 27th. Robert W. Baird raised 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. Finally, Wells Fargo & Company raised their price objective on Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research report on Tuesday, July 1st. Two 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 an average rating of "Hold" and an average price target of $43.80.

Atmus Filtration Technologies Trading Down 3.9%

Shares of ATMU traded down $1.7040 during midday trading on Friday, reaching $42.2160. The company had a trading volume of 1,219,815 shares, compared to its average volume of 839,187. Atmus Filtration Technologies has a 1-year low of $30.94 and a 1-year high of $45.92. The stock has a market cap of $3.47 billion, a PE ratio of 18.68, a price-to-earnings-growth ratio of 5.28 and a beta of 1.64. The firm has a 50 day simple moving average of $38.42 and a 200-day simple moving average of $37.41. The company has a quick ratio of 1.43, a current ratio of 2.15 and a debt-to-equity ratio of 1.75.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its 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. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%.The business had revenue of $453.50 million during the quarter, compared to the consensus estimate of $433.51 million. During the same period last year, the company earned $0.71 EPS. The company's revenue for the quarter 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. Research analysts forecast that Atmus Filtration Technologies will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The company 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 dividend of $0.055 per share. This is a positive change from Atmus Filtration Technologies's previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 26th. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. Atmus Filtration Technologies's dividend payout ratio (DPR) is 8.85%.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ATMU. Eminence Capital LP boosted its stake 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 valued at $179,939,000 after buying an additional 2,027,617 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at about $63,949,000. Nuveen LLC purchased a new position in shares of Atmus Filtration Technologies in the 1st quarter valued at about $48,966,000. Invesco Ltd. boosted its stake 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 valued at $79,258,000 after buying an additional 990,468 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its stake in shares of Atmus Filtration Technologies by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,911,153 shares of the company's stock valued at $74,879,000 after buying an additional 584,270 shares during the period. Hedge funds and other institutional investors own 32.73% of the company's stock.

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.