Atmus Filtration Technologies Inc. (NYSE:ATMU) Short Interest Update

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the target of a significant increase in short interest in October. As of October 15th, there was short interest totalling 2,620,000 shares, an increase of 25.4% from the September 30th total of 2,090,000 shares. Based on an average daily trading volume, of 949,300 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.2% of the shares of the stock are sold short.

Atmus Filtration Technologies Trading Up 0.8 %

ATMU stock traded up $0.30 during midday trading on Wednesday, reaching $39.29. 201,996 shares of the company traded hands, compared to its average volume of 1,878,785. The firm has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.92, a P/E/G ratio of 4.40 and a beta of 1.75. Atmus Filtration Technologies has a 52-week low of $18.21 and a 52-week high of $40.29. The business has a 50 day moving average of $36.75 and a 200-day moving average of $32.49. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07.

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

Atmus Filtration Technologies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st will be issued a $0.05 dividend. The ex-dividend date is Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.51%. Atmus Filtration Technologies’s dividend payout ratio is presently 10.20%.

Insiders Place Their Bets

In other news, Director Stephen E. Macadam purchased 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought 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 trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Gretchen R. Haggerty acquired 5,849 shares of the firm’s stock in a transaction dated Friday, August 23rd. The stock was purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Stephen E. Macadam acquired 8,250 shares of the business’s 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 acquisition, the director now directly owns 32,083 shares of the company’s stock, valued at $1,012,539.48. This trade represents 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 insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATMU. ProShare Advisors LLC increased its holdings in shares of Atmus Filtration Technologies by 3.1% during the second quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock valued at $325,000 after acquiring an additional 344 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in Atmus Filtration Technologies by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,999 shares of the company’s stock worth $374,000 after buying an additional 355 shares during the period. DekaBank Deutsche Girozentrale lifted its stake in Atmus Filtration Technologies by 4.6% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock valued at $535,000 after acquiring an additional 626 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Atmus Filtration Technologies by 89.3% in the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock valued at $62,000 after acquiring an additional 774 shares during the last quarter. Finally, Evermay Wealth Management LLC purchased a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at approximately $29,000. Hedge funds and other institutional investors own 32.73% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. Robert W. Baird lifted their price objective on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. Northland Securities increased their price objective on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company increased their target price on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and an average price target of $42.80.

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.