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

by · The Markets Daily

Atmus Filtration Technologies (NYSE:ATMU – Get Free Report) announced its 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. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. During the same period in the previous year, the firm posted $0.52 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. 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 Trading Up 6.8 %

Shares of NYSE:ATMU traded up $2.80 during mid-day trading on Friday, reaching $44.27. The stock had a trading volume of 1,484,489 shares, compared to its average volume of 1,851,880. The firm has a 50 day simple moving average of $37.72 and a two-hundred day simple moving average of $32.96. Atmus Filtration Technologies has a twelve month low of $18.73 and a twelve month high of $44.66. The firm has a market cap of $3.69 billion, a PE ratio of 21.28, a price-to-earnings-growth ratio of 4.43 and a beta of 1.68. The company has a current ratio of 2.07, a quick ratio of 1.30 and a debt-to-equity ratio of 3.28.

Atmus Filtration Technologies Dividend Announcement

The business 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 of this dividend is Thursday, October 31st. This represents a $0.20 annualized dividend and a dividend yield of 0.45%. Atmus Filtration Technologies’s payout ratio is currently 9.62%.

Insider Activity

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty purchased 5,849 shares of the company’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 completion of the transaction, the director now directly owns 19,882 shares in the company, valued at $679,964.40. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.43% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ATMU. Wells Fargo & Company upped their price objective on Atmus Filtration Technologies from $36.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Robert W. Baird boosted their price objective on Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a report on Wednesday, October 16th. Northland Securities raised their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Finally, JPMorgan Chase & Co. boosted 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. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $42.80.

Check Out Our Latest Stock Analysis on Atmus Filtration Technologies

Atmus Filtration Technologies Company Profile

(Get Free Report)

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.

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