Atmus Filtration Technologies Inc. (NYSE:ATMU) Sees Significant Increase in Short Interest

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the recipient of a large growth in short interest in October. As of October 15th, there was short interest totalling 2,620,000 shares, a growth of 25.4% from the September 30th total of 2,090,000 shares. Based on an average trading volume of 949,300 shares, the short-interest ratio is presently 2.8 days. Currently, 3.2% of the company’s stock are sold short.

Insider Buying and Selling at Atmus Filtration Technologies

In related news, Director Gretchen R. Haggerty acquired 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, for a total transaction of $200,035.80. Following the purchase, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Atmus Filtration Technologies news, Director Stephen E. Macadam acquired 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The stock was acquired at an average cost of $31.56 per share, for a total transaction of $260,370.00. Following the transaction, the director now directly owns 32,083 shares in the company, valued at $1,012,539.48. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Gretchen R. Haggerty acquired 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired 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 owns 19,882 shares in the company, valued at $679,964.40. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.

Institutional Trading of Atmus Filtration Technologies

A number of hedge funds have recently bought and sold shares of the business. Evermay Wealth Management LLC bought a new stake in shares of Atmus Filtration Technologies in the first quarter valued at $29,000. Quarry LP purchased a new position in Atmus Filtration Technologies during the second quarter worth about $29,000. GAMMA Investing LLC grew its position in Atmus Filtration Technologies by 89.3% during the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after buying an additional 774 shares in the last quarter. Rothschild Investment LLC purchased a new position in shares of Atmus Filtration Technologies in the 2nd quarter worth about $68,000. Finally, nVerses Capital LLC bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at about $115,000. 32.73% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the company. JPMorgan Chase & Co. increased their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Robert W. Baird increased their price target on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Wells Fargo & Company increased their price target on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Northland Securities increased their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. Five 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 a consensus price target of $42.80.

Atmus Filtration Technologies Stock Up 0.8 %

Atmus Filtration Technologies stock traded up $0.31 during mid-day trading on Wednesday, reaching $39.30. The stock had a trading volume of 241,943 shares, compared to its average volume of 1,879,001. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. Atmus Filtration Technologies has a fifty-two week low of $18.21 and a fifty-two week high of $40.29. The stock’s 50-day simple moving average is $36.75 and its 200-day simple moving average is $32.49. The firm has a market capitalization of $3.28 billion, a PE ratio of 19.92, a price-to-earnings-growth ratio of 4.40 and a beta of 1.75.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating analysts’ consensus estimates of $0.58 by $0.13. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm had revenue of $432.60 million during the quarter, compared to analysts’ expectations of $418.33 million. During the same quarter last year, the firm posted $0.63 earnings per share. The company’s revenue for the quarter was up 4.6% compared to the same quarter last year. On average, sell-side analysts forecast that Atmus Filtration Technologies will post 2.33 EPS for the current fiscal year.

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 issued a $0.05 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

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.