Atmus Filtration Technologies (NYSE:ATMU) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Atmus Filtration Technologies (NYSE:ATMU) had its price objective lowered by Wells Fargo & Company from $45.00 to $40.00 in a research report released on Tuesday morning,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

Several other research firms have also recently weighed in on ATMU. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $42.00 to $48.00 and gave the company an “outperform” rating in a research report on Tuesday, November 12th. JPMorgan Chase & Co. upped 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. Finally, Northland Securities boosted their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

Atmus Filtration Technologies Price Performance

ATMU opened at $39.34 on Tuesday. The stock’s 50 day moving average price is $41.16 and its 200-day moving average price is $36.35. Atmus Filtration Technologies has a 52-week low of $21.09 and a 52-week high of $45.43. The stock has a market capitalization of $3.27 billion, a PE ratio of 18.30, a price-to-earnings-growth ratio of 4.42 and a beta of 1.80. 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 issued its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. The business had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.52 EPS. On average, equities research analysts predict that Atmus Filtration Technologies will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio is presently 9.30%.

Institutional Trading of Atmus Filtration Technologies

Institutional investors have recently bought and sold shares of the company. Thrivent Financial for Lutherans grew its holdings in shares of Atmus Filtration Technologies by 854.0% during the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock valued at $5,346,000 after buying an additional 166,274 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new stake in Atmus Filtration Technologies during the 2nd quarter valued at $15,475,000. Algert Global LLC increased its holdings in shares of Atmus Filtration Technologies by 516.7% in the 3rd quarter. Algert Global LLC now owns 161,513 shares of the company’s stock worth $6,062,000 after purchasing an additional 135,325 shares in the last quarter. Hsbc Holdings PLC purchased a new position in shares of Atmus Filtration Technologies in the second quarter worth $1,396,000. Finally, Gabelli Funds LLC bought a new position in shares of Atmus Filtration Technologies during the second quarter valued at $561,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

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.