Short Interest in Atmus Filtration Technologies Inc. (NYSE:ATMU) Decreases By 6.6%

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the target of a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 2,400,000 shares, a decline of 6.6% from the October 31st total of 2,570,000 shares. Based on an average trading volume of 830,300 shares, the days-to-cover ratio is presently 2.9 days. Currently, 2.9% of the shares of the stock are short sold.

Institutional Inflows and Outflows

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

Atmus Filtration Technologies Trading Down 1.8 %

Shares of NYSE ATMU traded down $0.78 during mid-day trading on Tuesday, reaching $42.86. 1,265,985 shares of the company’s stock were exchanged, compared to its average volume of 855,497. The firm has a market capitalization of $3.56 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 4.75 and a beta of 1.69. Atmus Filtration Technologies has a 52-week low of $21.09 and a 52-week high of $45.43. The company’s 50-day moving average is $40.39 and its 200-day moving average is $34.45. 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 earnings per share for the quarter, beating 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 firm had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. During the same quarter last year, the company earned $0.52 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Analysts expect that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were issued a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.47%. The ex-dividend date of this dividend was Thursday, October 31st. Atmus Filtration Technologies’s payout ratio is currently 9.30%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ATMU shares. Northland Securities lifted 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. Wells Fargo & Company lowered Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price target for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Robert W. Baird lifted their target price 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. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus price target of $44.80.

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.