Atmus Filtration Technologies (NYSE:ATMU) Issues Quarterly Earnings Results, Beats Estimates By $0.09 EPS

Atmus Filtration Technologies (NYSE:ATMU) posted 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 return on equity of 187.12% and a net margin of 10.52%. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same period in the previous year, the firm earned $0.52 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. 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 Price Performance

NYSE ATMU traded up $2.80 on Friday, reaching $44.27. 1,484,489 shares of the stock traded hands, compared to its average volume of 1,851,880. The firm’s fifty day simple moving average is $37.72 and its 200 day simple moving average 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. The company has a market cap of $3.69 billion, a price-to-earnings ratio of 21.28, a P/E/G ratio of 4.43 and a beta of 1.68. Atmus Filtration Technologies has a 12 month low of $18.73 and a 12 month high of $44.66.

Atmus Filtration Technologies Announces Dividend

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 $0.05 dividend. 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 9.62%.

Insider Transactions at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty purchased 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the acquisition, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.43% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

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

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.