Atmus Filtration Technologies (NYSE:ATMU) Downgraded by Wall Street Zen to Buy

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

A number of other equities research analysts have also weighed in on the stock. JPMorgan Chase & Co. raised shares of Atmus Filtration Technologies from a “neutral” rating to an “overweight” rating and raised their price target for the company from $53.00 to $60.00 in a report on Wednesday, November 26th. Wells Fargo & Company upped their price objective on shares of Atmus Filtration Technologies from $47.00 to $52.00 and gave the company an “equal weight” rating in a research report on Monday, November 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $49.00.

Atmus Filtration Technologies Trading Up 0.8%

Shares of ATMU stock opened at $53.41 on Friday. The company has a quick ratio of 1.41, a current ratio of 2.14 and a debt-to-equity ratio of 1.63. Atmus Filtration Technologies has a fifty-two week low of $30.94 and a fifty-two week high of $54.29. The firm’s 50 day moving average price is $48.48 and its two-hundred day moving average price is $43.55. The stock has a market cap of $4.35 billion, a price-to-earnings ratio of 22.25, a price-to-earnings-growth ratio of 3.50 and a beta of 1.58.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, November 7th. The company reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.08. Atmus Filtration Technologies had a net margin of 11.57% and a return on equity of 76.84%. The business had revenue of $447.70 million for the quarter, compared to analyst estimates of $415.02 million. During the same quarter in the previous year, the business posted $0.61 EPS. The business’s quarterly revenue was up 10.9% on a year-over-year basis. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. On average, analysts anticipate that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were paid a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. The ex-dividend date was Tuesday, November 25th. Atmus Filtration Technologies’s dividend payout ratio is 9.17%.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds have recently bought and sold shares of the company. Channing Capital Management LLC boosted its position in Atmus Filtration Technologies by 3,192.8% during the 3rd quarter. Channing Capital Management LLC now owns 1,715,015 shares of the company’s stock valued at $77,330,000 after purchasing an additional 1,662,931 shares during the period. Eminence Capital LP lifted its stake in 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. First Trust Advisors LP boosted its holdings in shares of Atmus Filtration Technologies by 49.1% during the third quarter. First Trust Advisors LP now owns 1,527,957 shares of the company’s stock valued at $68,896,000 after acquiring an additional 503,383 shares during the period. Port Capital LLC bought a new position in shares of Atmus Filtration Technologies during the third quarter worth about $19,409,000. Finally, Geode Capital Management LLC grew its position in shares of Atmus Filtration Technologies by 20.8% during the second quarter. Geode Capital Management LLC now owns 2,365,362 shares of the company’s stock worth $86,154,000 after acquiring an additional 407,484 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

About Atmus Filtration Technologies

Atmus Filtration Technologies is a global developer and manufacturer of high-performance filter media and filtration solutions. The company designs and produces advanced materials that capture airborne particles across a range of applications, from heating, ventilation and air-conditioning (HVAC) systems to industrial and cleanroom environments. By focusing on proprietary meltblown and nanofiber technologies, Atmus delivers media that balances efficiency, airflow and durability for both original equipment manufacturers (OEMs) and aftermarket customers.

The company’s product portfolio encompasses pleated and panel filter media, depth filtration products and specialty laminates used in industries such as commercial buildings, healthcare, transportation and power generation.