Northland Capmk Issues Pessimistic Outlook for ATMU Earnings

Atmus Filtration Technologies Inc. (NYSE:ATMU) – Equities researchers at Northland Capmk cut their FY2024 earnings per share (EPS) estimates for shares of Atmus Filtration Technologies in a report issued on Tuesday, October 15th. Northland Capmk analyst B. Brooks now expects that the company will earn $2.36 per share for the year, down from their prior forecast of $2.37. The consensus estimate for Atmus Filtration Technologies’ current full-year earnings is $2.33 per share. Northland Capmk also issued estimates for Atmus Filtration Technologies’ FY2025 earnings at $2.41 EPS.

Several other analysts have also weighed in on the company. Wells Fargo & Company boosted their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Robert W. Baird boosted their price target on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a report on Wednesday. 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. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Five investment analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $42.80.

Atmus Filtration Technologies Stock Performance

Shares of Atmus Filtration Technologies stock opened at $39.79 on Friday. 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 has a 1 year low of $18.21 and a 1 year high of $40.29. The firm’s 50-day simple moving average is $35.89 and its 200-day simple moving average is $32.17. The firm has a market cap of $3.32 billion, a PE ratio of 20.30, a price-to-earnings-growth ratio of 4.40 and a beta of 1.75.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $432.60 million for the quarter, compared to analysts’ expectations of $418.33 million. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The firm’s quarterly revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.63 earnings per share.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds and other institutional investors have recently modified their holdings of the stock. Investment Research & Advisory Group Inc. acquired a new position in Atmus Filtration Technologies in the 1st quarter worth approximately $26,000. GAMMA Investing LLC lifted its holdings in shares of Atmus Filtration Technologies by 103.8% in the first quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock valued at $28,000 after purchasing an additional 442 shares in the last quarter. Evermay Wealth Management LLC acquired a new stake in shares of Atmus Filtration Technologies in the first quarter worth $29,000. Quarry LP purchased a new position in shares of Atmus Filtration Technologies during the second quarter valued at $29,000. Finally, Rothschild Investment LLC acquired a new position in Atmus Filtration Technologies during the second quarter valued at $68,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Insider Activity

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty acquired 5,849 shares of Atmus Filtration Technologies stock in a transaction dated Friday, August 23rd. The stock was bought at an average price 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 acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Stephen E. Macadam bought 8,250 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were acquired at an average cost of $31.56 per share, for a total transaction of $260,370.00. Following the acquisition, the director now directly owns 32,083 shares of the company’s stock, valued at $1,012,539.48. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Gretchen R. Haggerty bought 5,849 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly 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 disclosure for this purchase can be found here. Insiders own 0.43% of the company’s stock.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be paid a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

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.