Atmus Filtration Technologies (NYSE:ATMU) Hits New 12-Month High – Time to Buy?

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) reached a new 52-week high on Monday . The company traded as high as $44.99 and last traded at $44.99, with a volume of 681 shares. The stock had previously closed at $44.50.

Wall Street Analyst Weigh In

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

Atmus Filtration Technologies Stock Performance

The stock has a market cap of $3.63 billion, a PE ratio of 20.33, a price-to-earnings-growth ratio of 4.84 and a beta of 1.68. The stock has a fifty day moving average of $39.85 and a 200-day moving average of $34.09. The company has a quick ratio of 1.35, a current ratio of 2.11 and a debt-to-equity ratio of 2.61.

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 return on equity of 134.28% and a net margin of 10.84%. The company had revenue of $404.00 million for the quarter, compared to the consensus estimate of $403.40 million. During the same period last year, the business posted $0.52 EPS. The company’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Atmus Filtration Technologies Inc. will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were given a dividend of $0.05 per share. The ex-dividend date of this dividend was Thursday, October 31st. This represents a $0.20 dividend on an annualized basis and a yield of 0.46%. Atmus Filtration Technologies’s payout ratio is currently 9.30%.

Institutional Trading of Atmus Filtration Technologies

Several hedge funds and other institutional investors have recently made changes to their positions in ATMU. Quarry LP purchased a new position in Atmus Filtration Technologies during the second quarter worth about $29,000. GAMMA Investing LLC raised its stake in shares of 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 buying an additional 774 shares in the last quarter. Rothschild Investment LLC acquired a new stake in shares of Atmus Filtration Technologies in the 2nd quarter valued at approximately $68,000. KBC Group NV boosted 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 in the last quarter. Finally, nVerses Capital LLC acquired a new position in Atmus Filtration Technologies during the second quarter worth $115,000. Hedge funds and other institutional investors own 32.73% of the company’s stock.

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.