Atmus Filtration Technologies (NYSE:ATMU) Sets New 1-Year High – Here’s Why

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares reached a new 52-week high during trading on Wednesday . The stock traded as high as $54.10 and last traded at $53.0180, with a volume of 497866 shares changing hands. The stock had previously closed at $53.19.

Analyst Ratings Changes

ATMU has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research report on Wednesday, October 8th. Wells Fargo & Company lifted 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 note on Monday, November 10th. Wall Street Zen raised shares of Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Finally, JPMorgan Chase & Co. upgraded shares of Atmus Filtration Technologies from a “neutral” rating to an “overweight” rating and increased their target price for the company from $53.00 to $60.00 in a research report on Wednesday, November 26th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $49.00.

Atmus Filtration Technologies Stock Up 0.4%

The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.41 and a current ratio of 2.14. The company has a market cap of $4.32 billion, a P/E ratio of 22.08, a P/E/G ratio of 3.45 and a beta of 1.58. The stock has a 50 day moving average price of $48.27 and a 200 day moving average price of $43.38.

Atmus Filtration Technologies (NYSE:ATMU) last announced 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. The business had revenue of $447.70 million during the quarter, compared to analysts’ expectations of $415.02 million. Atmus Filtration Technologies had a return on equity of 76.84% and a net margin of 11.57%.The company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same quarter last year, the business posted $0.61 earnings per share. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. Research analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

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

Institutional Trading of Atmus Filtration Technologies

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. California State Teachers Retirement System increased its position in Atmus Filtration Technologies by 0.3% in the 2nd quarter. California State Teachers Retirement System now owns 83,277 shares of the company’s stock worth $3,033,000 after purchasing an additional 236 shares during the last quarter. Bessemer Group Inc. lifted its holdings in shares of Atmus Filtration Technologies by 31.4% during the 2nd quarter. Bessemer Group Inc. now owns 1,138 shares of the company’s stock valued at $42,000 after buying an additional 272 shares during the last quarter. Verdence Capital Advisors LLC grew its stake in shares of Atmus Filtration Technologies by 2.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,678 shares of the company’s stock valued at $626,000 after buying an additional 285 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in Atmus Filtration Technologies by 5.3% in the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,021 shares of the company’s stock worth $266,000 after buying an additional 301 shares during the last quarter. Finally, Creative Planning increased its holdings in Atmus Filtration Technologies by 4.9% in the second quarter. Creative Planning now owns 6,688 shares of the company’s stock worth $244,000 after buying an additional 312 shares during the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

Atmus Filtration Technologies Company 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.