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

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totalling 2,620,000 shares, an increase of 25.4% from the September 30th total of 2,090,000 shares. Based on an average daily trading volume, of 949,300 shares, the days-to-cover ratio is currently 2.8 days. Currently, 3.2% of the company’s shares are short sold.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ATMU. Northland Securities lifted their target price on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research report on Tuesday, October 15th. Robert W. Baird lifted their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research report on Wednesday, October 16th. 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 research report on Friday, October 11th. Finally, Wells Fargo & Company lifted their target price on Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and an average price target of $42.80.

Insiders Place Their Bets

In other Atmus Filtration Technologies news, Director Stephen E. Macadam bought 8,250 shares of Atmus Filtration Technologies stock in a transaction on Wednesday, August 7th. The stock was acquired at an average price of $31.56 per share, with a total value of $260,370.00. Following the acquisition, the director now owns 32,083 shares in the company, valued at approximately $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Director Gretchen R. Haggerty purchased 5,849 shares of the company’s stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the purchase, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen E. Macadam purchased 8,250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was purchased at an average price of $31.56 per share, for a total transaction of $260,370.00. Following the completion of the purchase, the director now owns 32,083 shares in the company, valued at approximately $1,012,539.48. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Atmus Filtration Technologies

Large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Atmus Filtration Technologies by 366.5% during the first quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock valued at $260,601,000 after buying an additional 6,348,391 shares during the period. Boston Partners purchased a new position in shares of Atmus Filtration Technologies during the first quarter valued at approximately $27,102,000. Bayberry Capital Partners LP purchased a new position in shares of Atmus Filtration Technologies during the first quarter valued at approximately $25,800,000. Renaissance Technologies LLC purchased a new position in shares of Atmus Filtration Technologies during the second quarter valued at approximately $17,743,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Atmus Filtration Technologies by 38.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock valued at $67,355,000 after buying an additional 583,078 shares during the period. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Price Performance

Shares of ATMU stock traded up $0.31 during trading hours on Wednesday, hitting $39.30. The stock had a trading volume of 241,943 shares, compared to its average volume of 1,879,001. Atmus Filtration Technologies has a one year low of $18.21 and a one year high of $40.29. The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. The stock’s 50-day moving average price is $36.75 and its two-hundred day moving average price is $32.49. The stock has a market capitalization of $3.28 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 4.40 and a beta of 1.75.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, August 2nd. The company reported $0.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.58 by $0.13. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm had revenue of $432.60 million for the quarter, compared to analysts’ expectations of $418.33 million. During the same period in the previous year, the firm posted $0.63 earnings per share. The business’s revenue was up 4.6% compared to the same quarter last year. Equities analysts forecast that Atmus Filtration Technologies will post 2.33 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be paid a dividend of $0.05 per share. The ex-dividend date of this dividend is Thursday, October 31st. This represents a $0.20 annualized dividend and a yield of 0.51%. Atmus Filtration Technologies’s payout ratio is currently 10.20%.

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.