Atmus Filtration Technologies (NYSE:ATMU) Stock Price Expected to Rise, Robert W. Baird Analyst Says

Atmus Filtration Technologies (NYSE:ATMU) had its price target lifted by Robert W. Baird from $42.00 to $48.00 in a report published on Tuesday,Benzinga reports. Robert W. Baird currently has an outperform rating on the stock.

A number of other research analysts have also commented on the stock. 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 report on Friday, October 11th. Wells Fargo & Company cut Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and upped their price target for the company from $42.00 to $45.00 in a report on Monday, November 11th. Finally, Northland Securities lifted their price objective on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Atmus Filtration Technologies has an average rating of “Moderate Buy” and a consensus target price of $44.80.

Atmus Filtration Technologies Stock Performance

ATMU opened at $43.26 on Tuesday. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The stock’s 50 day moving average price is $38.43 and its two-hundred day moving average price is $33.29. The firm has a market capitalization of $3.59 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 4.79 and a beta of 1.68. Atmus Filtration Technologies has a 12-month low of $20.44 and a 12-month high of $44.66.

Atmus Filtration Technologies (NYSE:ATMU) last announced its quarterly earnings data 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. The business had revenue of $404.00 million for the quarter, compared to the consensus estimate of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. Atmus Filtration Technologies’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter last year, the company posted $0.52 earnings per share. On average, equities analysts forecast that Atmus Filtration Technologies will post 2.43 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

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

Insider Transactions at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty bought 5,849 shares of Atmus Filtration Technologies stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $34.20 per share, for a total transaction of $200,035.80. Following the purchase, the director now owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 41.68 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.43% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several institutional investors have recently added to or reduced their stakes in ATMU. Y Intercept Hong Kong Ltd bought a new stake in Atmus Filtration Technologies during the 3rd quarter worth approximately $262,000. XTX Topco Ltd bought a new stake in shares of Atmus Filtration Technologies during the third quarter worth $325,000. Wellington Management Group LLP increased its stake in shares of Atmus Filtration Technologies by 1.7% in the third 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 in the last quarter. Watchtower Advisors LP bought a new position in shares of Atmus Filtration Technologies in the third quarter valued at about $7,261,000. Finally, Parsifal Capital Management LP lifted its position in Atmus Filtration Technologies by 2.2% during the 3rd quarter. Parsifal Capital Management LP now owns 2,721,278 shares of the company’s stock worth $102,130,000 after buying an additional 58,478 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

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.