Atmus Filtration Technologies Inc. (NYSE:ATMU) Short Interest Down 6.6% in November

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a large decline in short interest in 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 shares of the stock are sold short. Based on an average daily volume of 830,300 shares, the short-interest ratio is presently 2.9 days.

Institutional Trading of Atmus Filtration Technologies

A number of institutional investors have recently modified their holdings of the company. Parsifal Capital Management LP grew its position in Atmus Filtration Technologies by 2.2% in the third quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company’s stock valued at $102,130,000 after purchasing an additional 58,478 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Atmus Filtration Technologies by 1.7% in the third quarter. Wellington Management Group LLP now owns 2,517,338 shares of the company’s stock valued at $94,476,000 after acquiring an additional 43,004 shares during the last quarter. American Century Companies Inc. raised its holdings in Atmus Filtration Technologies by 2.8% during the second quarter. American Century Companies Inc. now owns 1,981,937 shares of the company’s stock worth $57,040,000 after acquiring an additional 54,051 shares in the last quarter. Geode Capital Management LLC boosted its position in Atmus Filtration Technologies by 2.1% during the third quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock valued at $71,123,000 after purchasing an additional 39,710 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in Atmus Filtration Technologies by 27.5% in the third quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company’s stock valued at $47,537,000 after purchasing an additional 272,890 shares in the last quarter. 32.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Atmus Filtration Technologies Trading Up 1.2 %

ATMU stock traded up $0.51 during midday trading on Wednesday, hitting $43.39. 18,260 shares of the company’s stock were exchanged, compared to its average volume of 1,773,481. Atmus Filtration Technologies has a one year low of $21.09 and a one year high of $45.43. The stock’s fifty day moving average price is $40.50 and its 200-day moving average price is $34.54. The company has a market cap of $3.61 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 4.75 and a beta of 1.69. 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 posted its earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same period in the prior year, the business earned $0.52 EPS. Atmus Filtration Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts predict that Atmus Filtration Technologies will post 2.45 earnings per share for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

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

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.