Northland Capmk Has Strong Forecast for ATMU FY2024 Earnings

Atmus Filtration Technologies Inc. (NYSE:ATMU) – Equities researchers at Northland Capmk lifted their FY2024 earnings per share (EPS) estimates for shares of Atmus Filtration Technologies in a research note issued on Tuesday, November 12th. Northland Capmk analyst B. Brooks now forecasts that the company will post earnings per share of $2.50 for the year, up from their previous estimate of $2.36. The consensus estimate for Atmus Filtration Technologies’ current full-year earnings is $2.43 per share. Northland Capmk also issued estimates for Atmus Filtration Technologies’ Q4 2024 earnings at $0.57 EPS and FY2025 earnings at $2.58 EPS.

A number of other equities research analysts have also issued reports on ATMU. Northland Securities raised their price target on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday. Robert W. Baird raised their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Finally, Wells Fargo & Company lowered Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Price Performance

Shares of Atmus Filtration Technologies stock opened at $43.26 on Thursday. The stock has a market cap of $3.59 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 4.79 and a beta of 1.68. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.30 and a current ratio of 2.11. The stock has a 50 day moving average price of $38.43 and a 200-day moving average price of $33.29. Atmus Filtration Technologies has a one year low of $20.44 and a one year high of $44.66.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. The business had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.52 EPS.

Atmus Filtration Technologies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.30%.

Insider Buying and Selling at Atmus Filtration Technologies

In related news, Director Gretchen R. Haggerty purchased 5,849 shares of Atmus Filtration Technologies stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the transaction, the director now owns 19,882 shares in the company, valued at approximately $679,964.40. The trade was a 41.68 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.43% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the stock. Y Intercept Hong Kong Ltd purchased a new position in Atmus Filtration Technologies during the 3rd quarter worth $262,000. XTX Topco Ltd purchased a new position in Atmus Filtration Technologies during the 3rd quarter worth $325,000. Wellington Management Group LLP grew its stake in Atmus Filtration Technologies by 1.7% during the 3rd quarter. Wellington Management Group LLP now owns 2,517,338 shares of the company’s stock worth $94,476,000 after buying an additional 43,004 shares during the last quarter. Watchtower Advisors LP purchased a new stake in Atmus Filtration Technologies during the 3rd quarter valued at about $7,261,000. Finally, Parsifal Capital Management LP grew its stake in Atmus Filtration Technologies by 2.2% during the 3rd quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company’s stock valued at $102,130,000 after purchasing an additional 58,478 shares during the last quarter. 32.73% of the stock is owned by institutional investors.

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.