Atmus Filtration Technologies Inc. (NYSE:ATMU) Sees Large Drop in Short Interest

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

Institutional Investors Weigh In On Atmus Filtration Technologies

Several large investors have recently modified their holdings of ATMU. Glenmede Trust Co. NA raised its holdings in shares of Atmus Filtration Technologies by 0.7% during the third quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after acquiring an additional 303 shares during the period. ProShare Advisors LLC raised its stake in Atmus Filtration Technologies by 3.1% during the 2nd quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock valued at $325,000 after purchasing an additional 344 shares during the period. Crossmark Global Holdings Inc. lifted its holdings in shares of Atmus Filtration Technologies by 2.8% in the second quarter. Crossmark Global Holdings Inc. now owns 12,999 shares of the company’s stock valued at $374,000 after purchasing an additional 355 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Atmus Filtration Technologies by 4.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock worth $535,000 after buying an additional 626 shares during the period. Finally, KBC Group NV grew its holdings in shares of Atmus Filtration Technologies by 42.1% during the third quarter. KBC Group NV now owns 2,424 shares of the company’s stock valued at $91,000 after buying an additional 718 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on ATMU shares. Wells Fargo & Company downgraded 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 research note on Monday, November 11th. JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a research report on Friday, October 11th. Robert W. Baird upped their target price on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, Northland Securities lifted their price target on Atmus Filtration Technologies from $49.00 to $50.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. One 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 currently has a consensus rating of “Moderate Buy” and an average price target of $44.80.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock traded down $0.77 during midday trading on Tuesday, hitting $39.94. The company’s stock had a trading volume of 621,035 shares, compared to its average volume of 1,740,370. Atmus Filtration Technologies has a 12 month low of $21.09 and a 12 month high of $45.43. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The company has a market capitalization of $3.32 billion, a PE ratio of 18.93, a price-to-earnings-growth ratio of 4.42 and a beta of 1.69. The stock’s 50-day moving average price is $41.20 and its 200-day moving average price is $35.26.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $403.40 million. During the same period in the previous year, the firm earned $0.52 EPS. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. 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 disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were given a dividend of $0.05 per share. The ex-dividend date was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.50%. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.30%.

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.