Short Interest in Atmus Filtration Technologies Inc. (NYSE:ATMU) Declines By 7.1%

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a large drop in short interest in the month of November. As of November 30th, there was short interest totalling 2,230,000 shares, a drop of 7.1% from the November 15th total of 2,400,000 shares. Based on an average daily volume of 840,700 shares, the days-to-cover ratio is presently 2.7 days. Currently, 2.7% of the company’s shares are short sold.

Analyst Upgrades and Downgrades

ATMU has been the topic of a number of recent research reports. Robert W. Baird lifted their price target 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. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and lifted their target price for the company from $42.00 to $45.00 in a report on Monday, November 11th. JPMorgan Chase & Co. increased 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. Finally, Northland Securities boosted 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 equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $44.80.

Atmus Filtration Technologies Stock Performance

Shares of ATMU stock opened at $39.94 on Wednesday. The company’s fifty day moving average price is $41.22 and its two-hundred day moving average price is $35.33. 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 firm has a market capitalization of $3.32 billion, a P/E ratio of 18.58, a P/E/G ratio of 4.42 and a beta of 1.69. Atmus Filtration Technologies has a 12 month low of $21.09 and a 12 month high of $45.43.

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

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were issued a $0.05 dividend. The ex-dividend date was Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.50%. Atmus Filtration Technologies’s dividend payout ratio is presently 9.30%.

Institutional Inflows and Outflows

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

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.