Short Interest in Atmus Filtration Technologies Inc. (NYSE:ATMU) Declines By 7.1%

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

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on ATMU shares. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Robert W. Baird lifted their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Wells Fargo & Company cut shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and increased their price objective for the company from $42.00 to $45.00 in a research note on Monday, November 11th. Finally, Northland Securities lifted their target price 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. One analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Institutional Trading of Atmus Filtration Technologies

A number of hedge funds have recently bought and sold shares of ATMU. Quarry LP acquired a new stake in Atmus Filtration Technologies in the 2nd quarter worth about $29,000. GAMMA Investing LLC grew its holdings in Atmus Filtration Technologies by 89.3% in the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock valued at $62,000 after purchasing an additional 774 shares during the period. Rothschild Investment LLC acquired a new position in Atmus Filtration Technologies during the second quarter worth approximately $68,000. KBC Group NV raised its stake in Atmus Filtration Technologies by 42.1% during the third 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 period. Finally, nVerses Capital LLC acquired a new position in shares of Atmus Filtration Technologies in the 2nd quarter valued at $115,000. Institutional investors and hedge funds own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Performance

NYSE ATMU opened at $39.94 on Wednesday. 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 stock has a market cap of $3.32 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 4.42 and a beta of 1.69. Atmus Filtration Technologies has a fifty-two week low of $21.09 and a fifty-two week high of $45.43. The business has a fifty day moving average of $41.22 and a 200-day moving average of $35.33.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $404.00 million during the quarter, compared to the consensus estimate of $403.40 million. During the same quarter in the previous year, the company posted $0.52 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. As a group, analysts predict that Atmus Filtration Technologies will post 2.45 earnings per share for the current fiscal year.

Atmus Filtration Technologies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Investors of record on Thursday, October 31st were paid a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is 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.