Atmus Filtration Technologies (NYSE:ATMU) Sets New 12-Month High – What’s Next?

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares hit a new 52-week high on Thursday . The stock traded as high as $53.59 and last traded at $53.2560, with a volume of 235021 shares trading hands. The stock had previously closed at $52.44.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ATMU. JPMorgan Chase & Co. upgraded shares of Atmus Filtration Technologies from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $53.00 to $60.00 in a research note on Wednesday, November 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research report on Wednesday, October 8th. Wells Fargo & Company upped their target price on 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, Wall Street Zen raised Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and an average target price of $49.00.

Atmus Filtration Technologies Price Performance

The company has a quick ratio of 1.41, a current ratio of 2.14 and a debt-to-equity ratio of 1.63. The company’s fifty day moving average price is $47.58 and its 200 day moving average price is $42.92. The company has a market capitalization of $4.30 billion, a P/E ratio of 21.98, a PEG ratio of 3.49 and a beta of 1.58.

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

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, December 10th. Stockholders of record on Tuesday, November 25th were given a $0.055 dividend. The ex-dividend date 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 presently 9.17%.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds and other institutional investors have recently modified their holdings of the business. Tudor Investment Corp ET AL bought a new stake in shares of Atmus Filtration Technologies during the 3rd quarter worth $1,278,000. CIBC Bancorp USA Inc. acquired a new stake in shares of Atmus Filtration Technologies in the 3rd quarter valued at approximately $402,000. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in shares of Atmus Filtration Technologies by 2.8% during the 3rd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 94,200 shares of the company’s stock valued at $4,247,000 after purchasing an additional 2,600 shares during the last quarter. Dark Forest Capital Management LP increased its position in Atmus Filtration Technologies by 62.8% during the 3rd quarter. Dark Forest Capital Management LP now owns 125,436 shares of the company’s stock worth $5,656,000 after purchasing an additional 48,382 shares in the last quarter. Finally, Voloridge Investment Management LLC lifted its stake in Atmus Filtration Technologies by 17.9% in the 3rd quarter. Voloridge Investment Management LLC now owns 236,026 shares of the company’s stock valued at $10,642,000 after purchasing an additional 35,895 shares during the last quarter. 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.