Robert W. Baird Forecasts Strong Price Appreciation for Atmus Filtration Technologies (NYSE:ATMU) Stock

Atmus Filtration Technologies (NYSE:ATMU) had its price objective upped by Robert W. Baird from $42.00 to $48.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an outperform rating on the stock.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a report on Friday, October 11th. Wells Fargo & Company lowered shares of Atmus Filtration Technologies from an “overweight” rating to an “equal weight” rating and raised their price objective for the stock from $42.00 to $45.00 in a research note on Monday, November 11th. Finally, Northland Securities boosted their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an “outperform” rating in a research note on Tuesday, October 15th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $44.80.

Atmus Filtration Technologies Trading Up 0.4 %

Atmus Filtration Technologies stock opened at $43.26 on Tuesday. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of 20.12, a price-to-earnings-growth ratio of 4.79 and a beta of 1.68. Atmus Filtration Technologies has a 1 year low of $20.44 and a 1 year high of $44.66. The firm’s 50 day moving average price is $38.43 and its two-hundred day moving average price is $33.29. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.30 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. During the same period in the previous year, the firm posted $0.52 EPS. The company’s quarterly revenue was up 2.0% on a year-over-year basis. On average, research analysts predict that Atmus Filtration Technologies will post 2.43 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

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

Insider Buying and Selling at Atmus Filtration Technologies

In other news, Director Gretchen R. Haggerty acquired 5,849 shares of Atmus Filtration Technologies stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the transaction, the director now owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 41.68 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.43% of the company’s stock.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Thrivent Financial for Lutherans increased its holdings in Atmus Filtration Technologies by 854.0% in the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock worth $5,346,000 after buying an additional 166,274 shares during the last quarter. Swiss National Bank increased its stake in shares of Atmus Filtration Technologies by 472.5% during the 1st quarter. Swiss National Bank now owns 188,349 shares of the company’s stock worth $6,074,000 after purchasing an additional 155,449 shares during the last quarter. Quadrature Capital Ltd bought a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at $969,000. Vanguard Group Inc. lifted its stake in shares of Atmus Filtration Technologies by 366.5% in the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock valued at $260,601,000 after purchasing an additional 6,348,391 shares during the last quarter. Finally, Burney Co. bought a new stake in Atmus Filtration Technologies in the first quarter worth $567,000. 32.73% of the stock is owned by hedge funds and other 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.