Atmus Filtration Technologies (NYSE:ATMU) Cut to Equal Weight at Wells Fargo & Company

Wells Fargo & Company cut shares of Atmus Filtration Technologies (NYSE:ATMU) from an overweight rating to an equal weight rating in a research note issued to investors on Monday, Marketbeat.com reports. They currently have $45.00 price objective on the stock, up from their previous price objective of $42.00.

ATMU has been the topic of several other research reports. 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 report on Friday, October 11th. Northland Securities increased their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Finally, Robert W. Baird boosted their price objective on Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 16th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Atmus Filtration Technologies currently has a consensus rating of “Moderate Buy” and a consensus target price of $44.80.

Atmus Filtration Technologies Trading Up 2.4 %

Shares of Atmus Filtration Technologies stock opened at $43.57 on Monday. The firm has a 50-day moving average of $38.02 and a 200-day moving average of $33.15. Atmus Filtration Technologies has a 52-week low of $20.05 and a 52-week high of $44.66. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.30 and a current ratio of 2.11. The stock has a market cap of $3.62 billion, a PE ratio of 20.30, a PEG ratio of 4.79 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings data on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $403.40 million. During the same quarter last year, the business earned $0.52 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts forecast that Atmus Filtration Technologies will post 2.37 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were issued a dividend of $0.05 per share. 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 payout ratio is presently 9.30%.

Insider Transactions at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty acquired 5,849 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the acquisition, the director now owns 19,882 shares in the company, valued at $679,964.40. This represents a 0.00 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.43% of the company’s stock.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Atmus Filtration Technologies by 366.5% during the first quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock valued at $260,601,000 after buying an additional 6,348,391 shares during the period. Boston Partners bought a new position in shares of Atmus Filtration Technologies in the first quarter worth about $27,102,000. Bayberry Capital Partners LP purchased a new position in Atmus Filtration Technologies in the 1st quarter worth about $25,800,000. Renaissance Technologies LLC purchased a new stake in Atmus Filtration Technologies in the 2nd quarter valued at about $17,743,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Atmus Filtration Technologies by 38.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock worth $67,355,000 after acquiring an additional 583,078 shares in the last quarter. Hedge funds and other institutional investors own 32.73% of the company’s stock.

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.