Atmus Filtration Technologies (NYSE:ATMU) Issues Quarterly Earnings Results

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) issued its quarterly earnings results on Friday. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09, Briefing.com reports. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. During the same quarter in the previous year, the company posted $0.52 earnings per share. The company's revenue was up 2.0% compared to the same quarter last year. Atmus Filtration Technologies updated its FY 2024 guidance to 2.350-2.500 EPS and its FY24 guidance to $2.35-2.50 EPS.

Atmus Filtration Technologies Stock Performance

Shares of NYSE ATMU traded up $2.80 during midday trading on Friday, hitting $44.27. 1,484,489 shares of the stock traded hands, compared to its average volume of 707,021. Atmus Filtration Technologies has a one year low of $18.73 and a one year high of $44.66. The firm has a 50-day moving average of $37.72 and a two-hundred day moving average of $32.98. The firm has a market capitalization of $3.69 billion, a P/E ratio of 21.28, a PEG ratio of 4.74 and a beta of 1.68. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. Atmus Filtration Technologies's payout ratio is 9.62%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ATMU shares. Northland Securities upped their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an "outperform" rating in a research report on Tuesday, October 15th. Robert W. Baird upped their price target on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Wells Fargo & Company upped their price target on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. upped their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an "overweight" rating in a research report on Friday, October 11th. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, Atmus Filtration Technologies presently has a consensus rating of "Buy" and an average price target of $42.80.

Insider Buying and Selling

In related news, Director Gretchen R. Haggerty bought 5,849 shares of the firm's stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $34.20 per share, with a total value of $200,035.80. Following the acquisition, the director now owns 19,882 shares in the company, valued at $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.43% of the stock is owned by insiders.

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.