Atmus Filtration Technologies (NYSE:ATMU) Updates FY24 Earnings Guidance

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) issued an update on its FY24 earnings guidance on Friday morning. The company provided earnings per share guidance of $2.35-2.50 for the period, compared to the consensus estimate of $2.34. The company issued revenue guidance of $1.65-1.675 billion, compared to the consensus revenue estimate of $1.66 billion. Atmus Filtration Technologies also updated its FY 2024 guidance to 2.350-2.500 EPS.

Wall Street Analysts Forecast Growth

ATMU has been the subject of several analyst reports. Northland Securities raised their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an "outperform" rating in a research report on Tuesday, October 15th. Wells Fargo & Company boosted their target price on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. increased 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. Finally, Robert W. Baird boosted their price target on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an "outperform" rating in a research report on Wednesday, October 16th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $42.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU stock traded up $2.73 during trading hours on Friday, reaching $44.20. 1,030,448 shares of the company were exchanged, compared to its average volume of 1,849,470. The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. The company has a market cap of $3.68 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 4.43 and a beta of 1.68. The stock's fifty day moving average is $37.55 and its two-hundred day moving average is $32.87. Atmus Filtration Technologies has a fifty-two week low of $18.73 and a fifty-two week high of $44.66.

Atmus Filtration Technologies Dividend Announcement

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

Insider Buying and Selling

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty bought 5,849 shares of the business's stock in a transaction on Friday, August 23rd. The shares were bought at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the transaction, the director now owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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.