Atmus Filtration Technologies Inc. (NYSE:ATMU) Short Interest Update

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the recipient of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,400,000 shares, a decline of 6.6% from the October 31st total of 2,570,000 shares. Currently, 2.9% of the company’s shares are short sold. Based on an average daily volume of 830,300 shares, the days-to-cover ratio is presently 2.9 days.

Analysts Set New Price Targets

ATMU has been the subject of a number of research reports. JPMorgan Chase & Co. increased their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Northland Securities lifted their price target on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Wells Fargo & Company downgraded Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and boosted their price target for the stock from $42.00 to $45.00 in a research report on Monday, November 11th. Finally, Robert W. Baird increased their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and an average price target of $44.80.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ATMU. California State Teachers Retirement System raised its holdings in Atmus Filtration Technologies by 38.5% in the 1st quarter. California State Teachers Retirement System now owns 24,592 shares of the company’s stock valued at $793,000 after acquiring an additional 6,831 shares during the last quarter. Harbor Capital Advisors Inc. raised its stake in Atmus Filtration Technologies by 103.0% during the second quarter. Harbor Capital Advisors Inc. now owns 28,008 shares of the company’s stock worth $806,000 after purchasing an additional 14,210 shares during the period. Bank of New York Mellon Corp boosted its holdings in Atmus Filtration Technologies by 21.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 373,785 shares of the company’s stock valued at $10,758,000 after purchasing an additional 66,074 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Atmus Filtration Technologies by 209.6% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,735 shares of the company’s stock valued at $453,000 after buying an additional 10,653 shares during the period. Finally, Crossmark Global Holdings Inc. raised its position in shares of Atmus Filtration Technologies by 2.8% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,999 shares of the company’s stock valued at $374,000 after buying an additional 355 shares during the period. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Price Performance

NYSE:ATMU traded down $0.78 on Tuesday, reaching $42.86. 1,265,985 shares of the company’s stock traded hands, compared to its average volume of 855,497. Atmus Filtration Technologies has a 12 month low of $21.09 and a 12 month high of $45.43. The stock has a 50-day simple moving average of $40.50 and a 200-day simple moving average of $34.54. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The firm has a market cap of $3.56 billion, a PE ratio of 19.93, a P/E/G ratio of 4.75 and a beta of 1.69.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. During the same period last year, the company earned $0.52 earnings per share. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts forecast that Atmus Filtration Technologies will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a yield of 0.47%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.30%.

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.