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

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

Atmus Filtration Technologies Stock Down 2.5 %

NYSE ATMU traded down $1.06 during trading on Monday, reaching $40.76. The company’s stock had a trading volume of 591,083 shares, compared to its average volume of 616,185. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The stock has a market capitalization of $3.39 billion, a PE ratio of 18.96, a PEG ratio of 4.42 and a beta of 1.80. The business has a 50-day moving average price of $41.03 and a 200-day moving average price of $38.03. Atmus Filtration Technologies has a 1-year low of $21.09 and a 1-year 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, 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 during the quarter, compared to analysts’ expectations of $403.40 million. During the same period in the previous year, the company earned $0.52 earnings per share. Atmus Filtration Technologies’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, research analysts forecast that Atmus Filtration Technologies will post 2.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on ATMU shares. 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. Northland Securities boosted their price target on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their price target on shares of Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 7th. Finally, Robert W. Baird boosted their price target 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and a consensus price target of $43.80.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several large investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. bought a new stake in Atmus Filtration Technologies in the 4th quarter valued at $26,000. Quarry LP bought a new stake in Atmus Filtration Technologies in the 2nd quarter valued at $29,000. Nisa Investment Advisors LLC increased its holdings in Atmus Filtration Technologies by 333.1% in the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock valued at $45,000 after buying an additional 876 shares during the period. GAMMA Investing LLC increased its holdings in 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 buying an additional 774 shares during the period. Finally, KBC Group NV grew its holdings in shares of Atmus Filtration Technologies by 42.1% in the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after purchasing an additional 718 shares during the last quarter. 32.73% of the stock is currently 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.