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

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a large increase in short interest in December. As of December 31st, there was short interest totalling 1,820,000 shares, an increase of 12.3% from the December 15th total of 1,620,000 shares. Approximately 2.2% of the company’s stock are sold short. Based on an average daily trading volume, of 739,900 shares, the days-to-cover ratio is currently 2.5 days.

Atmus Filtration Technologies Stock Up 1.4 %

Shares of NYSE:ATMU traded up $0.59 on Friday, hitting $42.37. 836,015 shares of the company’s stock were exchanged, compared to its average volume of 474,522. Atmus Filtration Technologies has a 1-year low of $21.09 and a 1-year high of $45.43. The company has a market capitalization of $3.52 billion, a PE ratio of 19.71, a P/E/G ratio of 4.12 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. The firm’s 50-day moving average is $41.19 and its 200 day moving average is $37.04.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, beating the consensus estimate of $0.52 by $0.09. The company had revenue of $404.00 million for 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 firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Atmus Filtration Technologies will post 2.45 EPS for the current year.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Quarry LP acquired a new stake in shares of Atmus Filtration Technologies during the second quarter worth about $29,000. Nisa Investment Advisors LLC grew its stake in Atmus Filtration Technologies by 333.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock worth $45,000 after buying an additional 876 shares during the last quarter. GAMMA Investing LLC increased its position in Atmus Filtration Technologies by 89.3% during the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after buying an additional 774 shares during the period. KBC Group NV lifted its stake in Atmus Filtration Technologies by 42.1% in 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 during the last quarter. Finally, Oppenheimer Asset Management Inc. acquired a new stake in shares of Atmus Filtration Technologies in the second quarter valued at approximately $220,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ATMU. JPMorgan Chase & Co. lifted their target price on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. 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 note on Tuesday, November 12th. 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 report on Tuesday, November 12th. Finally, Wells Fargo & Company reduced their target price on shares of Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating on the stock in a report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus price target of $43.80.

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.