Northland Capmk Issues Optimistic Forecast for ATMU Earnings

Atmus Filtration Technologies Inc. (NYSE:ATMU - Free Report) - Equities research analysts at Northland Capmk raised their FY2024 earnings per share estimates for shares of Atmus Filtration Technologies in a research note issued to investors on Tuesday, November 12th. Northland Capmk analyst B. Brooks now expects that the company will post earnings per share of $2.50 for the year, up from their prior estimate of $2.36. The consensus estimate for Atmus Filtration Technologies' current full-year earnings is $2.37 per share. Northland Capmk also issued estimates for Atmus Filtration Technologies' Q4 2024 earnings at $0.57 EPS and FY2025 earnings at $2.58 EPS.

Other equities research analysts have also recently issued reports about the company. Robert W. Baird increased their price objective on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an "outperform" rating in a research report on Tuesday. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an "overweight" rating to an "equal weight" rating and lifted their target price for the company from $42.00 to $45.00 in a research report on Monday. JPMorgan Chase & Co. raised their price target on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an "overweight" rating in a research note on Friday, October 11th. Finally, Northland Securities boosted their price target on Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an "outperform" rating in a research note on Tuesday. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.80.

Atmus Filtration Technologies Stock Down 1.2 %

Shares of Atmus Filtration Technologies stock traded down $0.52 during trading on Thursday, hitting $43.05. 493,168 shares of the stock traded hands, compared to its average volume of 1,834,104. Atmus Filtration Technologies has a twelve month low of $20.44 and a twelve month high of $44.66. The stock has a market cap of $3.58 billion, a P/E ratio of 20.12, a PEG ratio of 4.79 and a beta of 1.68. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.30 and a current ratio of 2.11. The company has a fifty day moving average price of $38.23 and a two-hundred day moving average price of $33.23.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last posted its earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The firm had revenue of $404.00 million for the quarter, compared to analysts' expectations of $403.40 million. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The firm's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the firm earned $0.52 EPS.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were paid a $0.05 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.46%. Atmus Filtration Technologies's dividend payout ratio is 9.30%.

Insider Activity at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty purchased 5,849 shares of the business's stock in a transaction dated Friday, August 23rd. The stock was 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 in the company, valued at approximately $679,964.40. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.43% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans grew its stake in Atmus Filtration Technologies by 854.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company's stock valued at $5,346,000 after buying an additional 166,274 shares in the last quarter. Swiss National Bank grew its position in Atmus Filtration Technologies by 472.5% in the first quarter. Swiss National Bank now owns 188,349 shares of the company's stock worth $6,074,000 after acquiring an additional 155,449 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Atmus Filtration Technologies during the first quarter valued at about $969,000. Vanguard Group Inc. lifted its position in Atmus Filtration Technologies by 366.5% in the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company's stock worth $260,601,000 after buying an additional 6,348,391 shares during the last quarter. Finally, Burney Co. bought a new position in Atmus Filtration Technologies during the first quarter valued at approximately $567,000. 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.