Atmus Filtration Technologies (NYSE:ATMU) Sets New 52-Week High at $34.34

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares hit a new 52-week high during trading on Friday . The stock traded as high as $34.34 and last traded at $34.17, with a volume of 126999 shares trading hands. The stock had previously closed at $33.35.

Analyst Upgrades and Downgrades

ATMU has been the subject of several research reports. Robert W. Baird raised their target price on Atmus Filtration Technologies from $36.00 to $37.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Wells Fargo & Company reduced their target price on Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating for the company in a research note on Monday, May 6th. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $35.80.

Atmus Filtration Technologies Stock Performance

The firm has a market cap of $2.86 billion, a P/E ratio of 16.99, a PEG ratio of 3.67 and a beta of 1.74. The company has a current ratio of 2.00, a quick ratio of 1.27 and a debt-to-equity ratio of 4.83. The company’s 50-day moving average is $30.25 and its two-hundred day moving average is $28.92.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.13. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 314.52%. The business had revenue of $432.60 million for the quarter, compared to analysts’ expectations of $418.33 million. During the same quarter last year, the firm earned $0.63 EPS. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. As a group, equities analysts predict that Atmus Filtration Technologies Inc. will post 2.26 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Thursday, August 1st were given a $0.05 dividend. The ex-dividend date was Thursday, August 1st. This represents a $0.20 annualized dividend and a yield of 0.58%. Atmus Filtration Technologies’s payout ratio is 10.20%.

Insider Activity at Atmus Filtration Technologies

In other news, Director Stephen E. Macadam bought 8,250 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were purchased at an average price of $31.56 per share, with a total value of $260,370.00. Following the transaction, the director now directly owns 32,083 shares in the company, valued at $1,012,539.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 0.43% of the stock is owned by insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds have recently modified their holdings of the company. Investment Research & Advisory Group Inc. bought a new position in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $26,000. GAMMA Investing LLC lifted its position in shares of Atmus Filtration Technologies by 103.8% during the 1st quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock worth $28,000 after buying an additional 442 shares in the last quarter. Evermay Wealth Management LLC bought a new position in shares of Atmus Filtration Technologies during the 1st quarter worth approximately $29,000. Quarry LP bought a new stake in shares of Atmus Filtration Technologies in the 2nd quarter worth approximately $29,000. Finally, Global Retirement Partners LLC bought a new stake in shares of Atmus Filtration Technologies in the 1st quarter worth approximately $32,000. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Company Profile

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.