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

Atmus Filtration Technologies (NYSE:ATMU) released its quarterly earnings results on Friday. The company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09, Briefing.com reports. The firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.52 EPS. 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 Atmus Filtration Technologies stock traded up $2.80 during trading on Friday, reaching $44.27. The company’s stock had a trading volume of 1,484,489 shares, compared to its average volume of 1,851,880. Atmus Filtration Technologies has a 52 week low of $18.73 and a 52 week high of $44.66. The firm has a market cap of $3.69 billion, a PE ratio of 21.28, a P/E/G ratio of 4.43 and a beta of 1.68. The business’s 50-day moving average price is $37.72 and its 200-day moving average price is $32.96. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28.

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 issued a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.45%. The ex-dividend date of this dividend is Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio is currently 9.62%.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ATMU. JPMorgan Chase & Co. increased 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. Wells Fargo & Company upped their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Northland Securities boosted their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird raised 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, October 16th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, Atmus Filtration Technologies currently has a consensus rating of “Buy” and a consensus target price of $42.80.

Insiders Place Their Bets

In related news, Director Gretchen R. Haggerty purchased 5,849 shares of the business’s stock in a transaction that occurred on Friday, August 23rd. The stock was acquired at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the completion of the purchase, the director now owns 19,882 shares in the company, valued at approximately $679,964.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.43% 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.