JPMorgan Chase & Co. Cuts Atmus Filtration Technologies (NYSE:ATMU) Price Target to $38.00

Atmus Filtration Technologies (NYSE:ATMU) had its target price decreased by JPMorgan Chase & Co. from $46.00 to $38.00 in a research note published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other analysts have also recently issued reports about the company. Wells Fargo & Company cut their price objective on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. Robert W. Baird reduced their price target on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research report on Monday, February 24th. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $41.20.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock opened at $33.10 on Friday. The firm has a 50-day moving average of $37.59 and a 200-day moving average of $39.58. The firm has a market cap of $2.74 billion, a P/E ratio of 14.98, a P/E/G ratio of 3.99 and a beta of 1.78. 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 has a 1-year low of $27.62 and a 1-year high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, February 21st. The company reported $0.58 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $399.24 million. Sell-side analysts expect that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were given a $0.05 dividend. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 annualized dividend and a yield of 0.60%. Atmus Filtration Technologies’s payout ratio is presently 9.05%.

Institutional Trading of Atmus Filtration Technologies

Several institutional investors and hedge funds have recently modified their holdings of the company. LPL Financial LLC boosted its stake in Atmus Filtration Technologies by 3.3% in the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company’s stock worth $396,000 after purchasing an additional 326 shares during the period. Summit Investment Advisors Inc. boosted its position in shares of Atmus Filtration Technologies by 3.9% during the fourth quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company’s stock worth $343,000 after acquiring an additional 330 shares during the last quarter. Franklin Resources Inc. boosted its position in shares of Atmus Filtration Technologies by 1.7% during the fourth quarter. Franklin Resources Inc. now owns 28,712 shares of the company’s stock worth $1,125,000 after acquiring an additional 476 shares during the last quarter. Graham Capital Management L.P. grew its stake in Atmus Filtration Technologies by 1.9% during the fourth quarter. Graham Capital Management L.P. now owns 27,511 shares of the company’s stock valued at $1,078,000 after acquiring an additional 511 shares in the last quarter. Finally, Jag Capital Management LLC increased its holdings in Atmus Filtration Technologies by 8.1% in the 4th quarter. Jag Capital Management LLC now owns 7,653 shares of the company’s stock valued at $300,000 after acquiring an additional 571 shares during the last quarter. 32.73% of the stock is currently 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.