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

Atmus Filtration Technologies Inc. (NYSE:ATMU) saw a large increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,970,000 shares, an increase of 27.9% from the February 28th total of 1,540,000 shares. Currently, 2.4% of the shares of the company are short sold. Based on an average daily trading volume, of 769,300 shares, the days-to-cover ratio is currently 2.6 days.

Atmus Filtration Technologies Trading Up 1.9 %

Shares of ATMU opened at $37.92 on Thursday. Atmus Filtration Technologies has a twelve month low of $27.62 and a twelve month high of $45.43. 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 firm has a market capitalization of $3.16 billion, a P/E ratio of 17.16, a PEG ratio of 3.99 and a beta of 1.83. The firm’s 50-day moving average is $39.12 and its two-hundred day moving average is $39.77.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, February 21st. The company reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. The business had revenue of $406.70 million for the quarter, compared to analysts’ expectations of $399.24 million. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. On average, research analysts predict that Atmus Filtration Technologies will post 2.52 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Investors of record on Tuesday, March 4th were given a $0.05 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%. Atmus Filtration Technologies’s dividend payout ratio is presently 9.05%.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of large investors have recently added to or reduced their stakes in ATMU. Glenmede Trust Co. NA lifted its holdings in shares of Atmus Filtration Technologies by 0.7% in the third quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after purchasing an additional 303 shares in the last quarter. LPL Financial LLC raised its position in shares of Atmus Filtration Technologies by 3.3% during the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company’s stock worth $396,000 after purchasing an additional 326 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in Atmus Filtration Technologies by 3.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company’s stock valued at $343,000 after buying an additional 330 shares in the last quarter. Franklin Resources Inc. lifted its stake in Atmus Filtration Technologies by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 28,712 shares of the company’s stock valued at $1,125,000 after buying an additional 476 shares in the last quarter. Finally, Graham Capital Management L.P. grew its holdings in Atmus Filtration Technologies by 1.9% during the 4th quarter. Graham Capital Management L.P. now owns 27,511 shares of the company’s stock valued at $1,078,000 after buying an additional 511 shares during the last quarter. 32.73% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Wells Fargo & Company lowered their target price on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Robert W. Baird dropped their target price on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Atmus Filtration Technologies from $44.00 to $46.00 and gave the stock an “overweight” rating in a research note on Thursday, March 27th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $42.80.

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.