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

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the recipient of a significant 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 company’s stock are short sold.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several large investors have recently bought and sold shares of ATMU. Geneos Wealth Management Inc. bought a new position in Atmus Filtration Technologies in the fourth quarter valued at approximately $26,000. Quarry LP acquired a new position in Atmus Filtration Technologies during the second quarter worth about $29,000. Nisa Investment Advisors LLC boosted its holdings in shares of Atmus Filtration Technologies by 333.1% during the 4th quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock valued at $45,000 after acquiring an additional 876 shares in the last quarter. GAMMA Investing LLC grew its holdings in Atmus Filtration Technologies by 89.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after acquiring an additional 774 shares during the last quarter. Finally, KBC Group NV increased its stake in shares of 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 period. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Down 2.5 %

Shares of NYSE ATMU traded down $1.06 during trading hours on Monday, hitting $40.76. The stock had a trading volume of 591,083 shares, compared to its average volume of 616,185. Atmus Filtration Technologies has a 52 week low of $21.09 and a 52 week high of $45.43. The firm’s 50-day moving average price is $41.03 and its two-hundred day moving average price is $38.03. The company has a market capitalization of $3.39 billion, a P/E ratio of 18.96, a P/E/G ratio of 4.42 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.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The firm had revenue of $404.00 million during the quarter, compared to analysts’ expectations of $403.40 million. During the same period last year, the business earned $0.52 earnings per share. Atmus Filtration Technologies’s quarterly revenue was up 2.0% compared to the same quarter last year. Analysts anticipate that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Northland Securities increased 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 note on Tuesday, November 12th. Robert W. Baird boosted their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. JPMorgan Chase & Co. upped 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. Finally, Wells Fargo & Company lowered their target price on Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating for the company in a research note on Tuesday, January 7th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.