Atmus Filtration Technologies (NYSE:ATMU) Sets New 12-Month High – Here’s Why

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) hit a new 52-week high on Monday . The stock traded as high as $44.99 and last traded at $44.99, with a volume of 681 shares traded. The stock had previously closed at $44.50.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ATMU. Northland Securities boosted their price target on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted 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. Wells Fargo & Company lowered Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $45.00 in a research report on Monday, November 11th. Finally, Robert W. Baird boosted their price objective on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Atmus Filtration Technologies currently has an average rating of “Moderate Buy” and a consensus target price of $44.80.

Atmus Filtration Technologies Price Performance

The company’s 50-day simple moving average is $39.85 and its 200 day simple moving average is $34.09. The company has a market cap of $3.63 billion, a PE ratio of 20.33, a PEG ratio of 4.84 and a beta of 1.68. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. During the same period last year, the business posted $0.52 earnings per share. Atmus Filtration Technologies’s revenue was up 2.0% compared to the same quarter last year. On average, sell-side analysts predict that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were paid a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. Atmus Filtration Technologies’s payout ratio is 9.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ATMU. Glenmede Trust Co. NA raised its holdings in shares of Atmus Filtration Technologies by 0.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after purchasing an additional 303 shares in the last quarter. ProShare Advisors LLC increased its holdings in Atmus Filtration Technologies by 3.1% in the second quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock valued at $325,000 after buying an additional 344 shares during the last quarter. Crossmark Global Holdings Inc. raised its stake in Atmus Filtration Technologies by 2.8% in the second 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 in the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Atmus Filtration Technologies by 4.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock worth $535,000 after buying an additional 626 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Atmus Filtration Technologies by 42.1% during the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after acquiring an additional 718 shares in the last quarter. Hedge funds and other 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.