Atmus Filtration Technologies (NYSE:ATMU) Sees Large Volume Increase After Analyst Upgrade

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares saw unusually-high trading volume on Wednesday after JPMorgan Chase & Co. upgraded the stock from a neutral rating to an overweight rating. JPMorgan Chase & Co. now has a $60.00 price target on the stock, up from their previous price target of $53.00. Approximately 1,906,306 shares changed hands during mid-day trading, an increase of 148% from the previous session’s volume of 769,203 shares.The stock last traded at $51.2610 and had previously closed at $48.03.

A number of other brokerages have also recently commented on ATMU. Weiss Ratings reiterated a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research report on Wednesday, October 8th. 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 note on Monday, November 10th. Robert W. Baird increased their price objective on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Wall Street Zen upgraded Atmus Filtration Technologies from a “buy” rating to a “strong-buy” rating in a report on Saturday, November 15th. Three research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $49.00.

Hedge Funds Weigh In On Atmus Filtration Technologies

A number of institutional investors have recently bought and sold shares of ATMU. Eminence Capital LP grew its stake in shares of Atmus Filtration Technologies by 1.1% in the 3rd quarter. Eminence Capital LP now owns 6,522,404 shares of the company’s stock valued at $294,095,000 after buying an additional 73,411 shares during the period. Wellington Management Group LLP lifted its holdings in Atmus Filtration Technologies by 24.5% in the first quarter. Wellington Management Group LLP now owns 2,425,657 shares of the company’s stock valued at $89,094,000 after acquiring an additional 478,018 shares during the last quarter. Geode Capital Management LLC grew its position in Atmus Filtration Technologies by 20.8% in 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 period. Invesco Ltd. grew its position in Atmus Filtration Technologies by 1.6% in the third quarter. Invesco Ltd. now owns 2,223,823 shares of the company’s stock worth $100,272,000 after acquiring an additional 34,146 shares during the period. Finally, State Street Corp increased its stake in Atmus Filtration Technologies by 0.7% during the second quarter. State Street Corp now owns 1,953,607 shares of the company’s stock worth $71,150,000 after acquiring an additional 14,269 shares during the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

The stock has a 50-day simple moving average of $45.85 and a 200 day simple moving average of $41.71. The company has a market cap of $4.17 billion, a PE ratio of 21.36, a P/E/G ratio of 3.18 and a beta of 1.62. 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 (NYSE:ATMU) last issued its quarterly earnings data 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 firm had revenue of $447.70 million during 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 company’s quarterly revenue was up 10.9% on a year-over-year basis. During the same period last year, the company earned $0.61 EPS. Atmus Filtration Technologies has set its FY 2025 guidance at 2.500-2.650 EPS. Equities analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be given a dividend of $0.055 per share. The ex-dividend date is Tuesday, November 25th. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.4%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is currently 9.17%.

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.