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

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 1,820,000 shares, a growth of 12.3% from the December 15th total of 1,620,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 739,900 shares, the days-to-cover ratio is presently 2.5 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Glenmede Trust Co. NA raised its holdings in shares of Atmus Filtration Technologies by 0.7% in the 3rd 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 during the period. ProShare Advisors LLC raised its stake in Atmus Filtration Technologies by 3.1% in the second quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock valued at $325,000 after buying an additional 344 shares during the period. DekaBank Deutsche Girozentrale lifted its position in shares of Atmus Filtration Technologies by 4.6% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,256 shares of the company’s stock valued at $535,000 after buying an additional 626 shares during the last quarter. KBC Group NV increased its holdings in shares of Atmus Filtration Technologies by 42.1% during the 3rd quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after acquiring an additional 718 shares during the last quarter. Finally, GAMMA Investing LLC raised its position in shares of 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. 32.73% of the stock is currently owned by institutional investors.

Atmus Filtration Technologies Stock Up 1.4 %

Shares of Atmus Filtration Technologies stock traded up $0.59 during trading on Monday, reaching $42.37. The stock had a trading volume of 836,015 shares, compared to its average volume of 474,522. 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 company has a market capitalization of $3.52 billion, a price-to-earnings ratio of 19.71, a P/E/G ratio of 4.12 and a beta of 1.80. The stock has a fifty day moving average price of $41.19 and a two-hundred day moving average price of $37.10. Atmus Filtration Technologies has a 52 week low of $21.09 and a 52 week high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings data on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. The business had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.52 earnings per share. Sell-side analysts predict that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Robert W. Baird lifted their price objective on shares of Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. JPMorgan Chase & Co. boosted their price target on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Northland Securities raised their price objective on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company decreased 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 equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

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.