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

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

Analyst Upgrades and Downgrades

ATMU has been the subject of several research reports. Wells Fargo & Company downgraded Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and lifted their price target for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. Northland Securities increased 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 report on Tuesday, November 12th. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 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 report on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of institutional investors and hedge funds have recently modified their holdings of ATMU. Renaissance Technologies LLC bought a new stake in Atmus Filtration Technologies in the 2nd quarter valued at $17,743,000. Eagle Asset Management Inc. bought a new stake in Atmus Filtration Technologies in the 3rd quarter valued at about $21,635,000. Davidson Kempner Capital Management LP acquired a new position in Atmus Filtration Technologies during the 2nd quarter worth approximately $15,475,000. Victory Capital Management Inc. boosted its position in shares of Atmus Filtration Technologies by 83.5% during the second quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company’s stock valued at $32,397,000 after buying an additional 512,390 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Atmus Filtration Technologies in the 2nd quarter worth about $14,281,000. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Stock Performance

ATMU stock traded down $0.78 during midday trading on Tuesday, hitting $42.86. 1,265,985 shares of the company traded hands, compared to its average volume of 855,497. The stock has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 4.75 and a beta of 1.69. The business 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. Atmus Filtration Technologies has a twelve month low of $21.09 and a twelve month high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same period in the previous year, the business earned $0.52 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. As a group, equities research analysts predict that Atmus Filtration Technologies will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

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