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

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

Atmus Filtration Technologies Stock Performance

NYSE:ATMU traded down $1.06 during mid-day trading on Monday, hitting $40.76. The company’s stock had a trading volume of 591,083 shares, compared to its average volume of 616,185. Atmus Filtration Technologies has a 1 year low of $21.09 and a 1 year high of $45.43. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. The stock has a market cap of $3.39 billion, a price-to-earnings ratio of 18.96, a PEG ratio of 4.42 and a beta of 1.80. The business’s fifty day moving average is $41.03 and its two-hundred day moving average is $38.03.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping 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 business had revenue of $404.00 million for the quarter, compared to analyst estimates of $403.40 million. During the same period in the prior year, the company posted $0.52 EPS. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts anticipate that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Institutional Trading of Atmus Filtration Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Parsifal Capital Management LP boosted its position in Atmus Filtration Technologies by 2.2% in the 3rd quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company’s stock valued at $102,130,000 after buying an additional 58,478 shares during the period. Wellington Management Group LLP boosted its position in Atmus Filtration Technologies by 1.7% in the 3rd quarter. Wellington Management Group LLP now owns 2,517,338 shares of the company’s stock valued at $94,476,000 after buying an additional 43,004 shares during the period. Geode Capital Management LLC boosted its position in Atmus Filtration Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock valued at $71,123,000 after buying an additional 39,710 shares during the period. The Manufacturers Life Insurance Company lifted its position in shares of Atmus Filtration Technologies by 27.5% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 1,266,648 shares of the company’s stock worth $47,537,000 after purchasing an additional 272,890 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Atmus Filtration Technologies by 26.6% during the third quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company’s stock worth $43,290,000 after purchasing an additional 242,718 shares in the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ATMU. Wells Fargo & Company dropped their price target on Atmus Filtration Technologies from $45.00 to $40.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 7th. 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 report on Tuesday, November 12th. Northland Securities lifted their price target on Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. lifted their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, Atmus Filtration Technologies currently has an average rating of “Moderate Buy” and an average 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.