8 Most Profitable New Stocks To Invest In

2. Atmus Filtration Technologies Inc. (NYSE:ATMU)

TTM Net Income: $174.1 million

Number of Hedge Fund Holders: 44

Atmus Filtration Technologies Inc. (NYSE:ATMU) is a leading provider of filtration solutions for the industrial and commercial markets, offering filtration products and services like air filtration, liquid filtration, and gas filtration. Its products are used in many industries, including manufacturing, healthcare, and environmental protection.

Q2 2024 revenue was up 4.59% due to higher volumes (3%) and pricing (2%). The company benefited from lower commodity costs and strong execution. It’s improving product availability by building its own distribution network. Over 80% of products are now distributed through Atmus warehouses, and all products are expected to be distributed through this network by the end of this year. Freight activity remains soft, but strong performance in other areas offsets market weakness.

On August 7, Stephen Macadam, a Director at the company, purchased 8,250 shares of the company. He now owns a total of 32,083 shares. This was followed by another purchase of 5,849 shares by another Director, Gretchen Haggerty, on August 23. She now owns a total of 19,881.803 shares. Instances of insider buying improve investor trust in the company.

Atmus Filtration Technologies Inc. (NYSE:ATMU) continues to secure new vehicle platforms and is a leader in fuel filtration and crankcase ventilation. Its focus on aftermarket growth positions it for success. Its innovative and high-quality products are driving strong customer demand.