Wells Fargo & Company Cuts Atmus Filtration Technologies (NYSE:ATMU) Price Target to $39.00

Atmus Filtration Technologies (NYSE:ATMU) had its price objective reduced by Wells Fargo & Company from $40.00 to $39.00 in a research note released on Monday,Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the stock.

ATMU has been the subject of a number of other reports. Robert W. Baird decreased their target price on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday. Northland Securities raised their target price 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. One investment analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $43.00.

Atmus Filtration Technologies Stock Performance

Shares of Atmus Filtration Technologies stock opened at $38.97 on Monday. The business’s fifty day simple moving average is $40.29 and its 200 day simple moving average is $39.12. The firm has a market capitalization of $3.24 billion, a P/E ratio of 17.63, a price-to-earnings-growth ratio of 3.99 and a beta of 1.80. Atmus Filtration Technologies has a 12 month low of $22.81 and a 12 month high of $45.43. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, February 21st. The company reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.05. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The business had revenue of $406.70 million for the quarter, compared to analyst estimates of $399.24 million. As a group, analysts anticipate that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 19th. Stockholders of record on Tuesday, March 4th will be given a $0.05 dividend. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date is Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio (DPR) is presently 9.05%.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several hedge funds have recently made changes to their positions in ATMU. Geneos Wealth Management Inc. purchased a new position in shares of Atmus Filtration Technologies in the fourth quarter valued at $26,000. New Age Alpha Advisors LLC purchased a new position in Atmus Filtration Technologies during the fourth quarter worth about $32,000. Nisa Investment Advisors LLC grew its position in Atmus Filtration Technologies by 333.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 1,139 shares of the company’s stock worth $45,000 after buying an additional 876 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Atmus Filtration Technologies by 295.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company’s stock worth $54,000 after buying an additional 1,022 shares in the last quarter. Finally, Quarry LP grew its position in Atmus Filtration Technologies by 70.9% during the fourth quarter. Quarry LP now owns 1,993 shares of the company’s stock worth $78,000 after buying an additional 827 shares in the last quarter. 32.73% of the stock is currently owned by hedge funds and other institutional investors.

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.