Atmus Filtration Technologies Inc. (NYSE:ATMU) Short Interest Down 15.7% in September

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a significant drop in short interest in September. As of September 30th, there was short interest totalling 2,090,000 shares, a drop of 15.7% from the September 15th total of 2,480,000 shares. Approximately 2.5% of the shares of the company are short sold. Based on an average trading volume of 1,040,000 shares, the days-to-cover ratio is currently 2.0 days.

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Stephen E. Macadam acquired 8,250 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director now directly owns 32,083 shares of the company’s stock, valued at $1,012,539.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Stephen E. Macadam acquired 8,250 shares of Atmus Filtration Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average cost of $31.56 per share, with a total value of $260,370.00. Following the purchase, the director now owns 32,083 shares in the company, valued at $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Gretchen R. Haggerty bought 5,849 shares of the business’s stock in a transaction on Friday, August 23rd. The stock was bought at an average cost of $34.20 per share, with a total value of $200,035.80. Following the completion of the purchase, the director now directly owns 19,882 shares in the company, valued at approximately $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. 0.43% of the stock is owned by company insiders.

Institutional Trading of Atmus Filtration Technologies

Hedge funds and other institutional investors have recently modified their holdings of the company. Thrivent Financial for Lutherans grew its position in shares of Atmus Filtration Technologies by 854.0% in the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock valued at $5,346,000 after purchasing an additional 166,274 shares during the last quarter. Allspring Global Investments Holdings LLC raised its position in Atmus Filtration Technologies by 99.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 973,246 shares of the company’s stock worth $31,387,000 after purchasing an additional 484,420 shares during the last quarter. Swiss National Bank raised its position in shares of Atmus Filtration Technologies by 472.5% during the 1st quarter. Swiss National Bank now owns 188,349 shares of the company’s stock valued at $6,074,000 after acquiring an additional 155,449 shares during the last quarter. Wellington Management Group LLP raised its position in shares of Atmus Filtration Technologies by 7.9% during the 4th quarter. Wellington Management Group LLP now owns 828,045 shares of the company’s stock valued at $19,451,000 after acquiring an additional 60,714 shares during the last quarter. Finally, Nomura Holdings Inc. acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at $2,764,000. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Stock Performance

ATMU traded down $0.15 during trading hours on Monday, hitting $39.45. The company’s stock had a trading volume of 464,794 shares, compared to its average volume of 1,953,925. Atmus Filtration Technologies has a fifty-two week low of $18.21 and a fifty-two week high of $40.00. The company has a current ratio of 2.07, a quick ratio of 1.30 and a debt-to-equity ratio of 3.28. The firm has a market capitalization of $3.29 billion, a PE ratio of 20.13, a PEG ratio of 4.40 and a beta of 1.75. The company has a 50-day simple moving average of $35.06 and a 200 day simple moving average of $31.91.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.58 by $0.13. The firm had revenue of $432.60 million for the quarter, compared to analysts’ expectations of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm’s revenue was up 4.6% compared to the same quarter last year. During the same period last year, the firm earned $0.63 EPS. As a group, sell-side analysts expect that Atmus Filtration Technologies will post 2.33 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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 dividend yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 10.20%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ATMU shares. Wells Fargo & Company lifted their price objective 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. Robert W. Baird lifted their price target 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. Finally, JPMorgan Chase & Co. boosted their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $38.80.

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.