Atmus Filtration Technologies (NYSE:ATMU) Sets New 52-Week High – Time to Buy?

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s share price hit a new 52-week high during mid-day trading on Monday . The company traded as high as $44.99 and last traded at $44.99, with a volume of 681 shares changing hands. The stock had previously closed at $44.50.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. JPMorgan Chase & Co. lifted their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. Robert W. Baird lifted their target price on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company lowered Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $42.00 to $45.00 in a research report on Monday, November 11th. Finally, Northland Securities raised their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Stock Up 1.2 %

The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The stock’s fifty day simple moving average is $39.52 and its 200-day simple moving average is $33.90. The stock has a market cap of $3.74 billion, a P/E ratio of 20.70, a PEG ratio of 4.84 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.09. The business had revenue of $404.00 million for the quarter, compared to the consensus estimate of $403.40 million. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the business posted $0.52 EPS. On average, research analysts anticipate that Atmus Filtration Technologies Inc. will post 2.45 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.44%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is 9.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hohimer Wealth Management LLC acquired a new position in shares of Atmus Filtration Technologies during the third quarter worth approximately $308,000. Geode Capital Management LLC raised its stake in Atmus Filtration Technologies by 2.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock valued at $71,123,000 after acquiring an additional 39,710 shares in the last quarter. Y Intercept Hong Kong Ltd acquired a new position in Atmus Filtration Technologies during the 3rd quarter worth $262,000. XTX Topco Ltd bought a new position in shares of Atmus Filtration Technologies in the third quarter worth $325,000. Finally, Wellington Management Group LLP increased its holdings in shares of Atmus Filtration Technologies by 1.7% during the third quarter. Wellington Management Group LLP now owns 2,517,338 shares of the company’s stock valued at $94,476,000 after purchasing an additional 43,004 shares during the period. Institutional investors own 32.73% of the company’s stock.

About Atmus Filtration Technologies

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.