Atmus Filtration Technologies (NYSE:ATMU) Releases FY 2024 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 2.350-2.500 for the period, compared to the consensus EPS estimate of 2.200. The company issued revenue guidance of $1.7 billion-$1.7 billion, compared to the consensus revenue estimate of $1.7 billion. Atmus Filtration Technologies also updated its FY24 guidance to $2.35-2.50 EPS.

Atmus Filtration Technologies Stock Performance

Shares of NYSE:ATMU traded up $2.80 during trading on Friday, reaching $44.27. The stock had a trading volume of 1,484,313 shares, compared to its average volume of 1,851,880. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The stock has a fifty day simple moving average of $37.72 and a two-hundred day simple moving average of $32.96. The firm has a market capitalization of $3.69 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.43 and a beta of 1.68. Atmus Filtration Technologies has a 52 week low of $18.73 and a 52 week high of $44.66.

Atmus Filtration Technologies Announces Dividend

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

Analyst Upgrades and Downgrades

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

Insiders Place Their Bets

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

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.