Atmus Filtration Technologies (NYSE:ATMU) Shares Up 5.8% Following Earnings Beat

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s share price traded up 5.8% during trading on Monday following a stronger than expected earnings report. The stock traded as high as $30.17 and last traded at $30.08. 936,765 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 3,101,987 shares. The stock had previously closed at $28.44.

The company reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. The firm had revenue of $426.60 million during the quarter, compared to analysts’ expectations of $416.18 million. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 482.30%. The business’s quarterly revenue was up 1.9% on a year-over-year basis.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ATMU shares. Wells Fargo & Company decreased their price objective on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating on the stock in a report on Monday. JPMorgan Chase & Co. raised their price target on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a research report on Monday, April 15th. Northland Securities raised shares of Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Wednesday, March 20th. Robert W. Baird raised their price target on shares of Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group raised their price target on shares of Atmus Filtration Technologies from $30.00 to $34.00 and gave the stock a “buy” rating in a research report on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $34.00.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of hedge funds have recently made changes to their positions in the stock. Franklin Resources Inc. boosted its position in Atmus Filtration Technologies by 1.1% during the 4th quarter. Franklin Resources Inc. now owns 2,602,746 shares of the company’s stock worth $61,139,000 after buying an additional 29,568 shares during the period. Hotchkis & Wiley Capital Management LLC boosted its position in Atmus Filtration Technologies by 0.7% during the 4th quarter. Hotchkis & Wiley Capital Management LLC now owns 1,946,220 shares of the company’s stock worth $45,717,000 after buying an additional 13,120 shares during the period. Weiss Asset Management LP boosted its position in Atmus Filtration Technologies by 5.6% during the 4th quarter. Weiss Asset Management LP now owns 1,931,182 shares of the company’s stock worth $45,363,000 after buying an additional 102,479 shares during the period. Vanguard Group Inc. boosted its position in Atmus Filtration Technologies by 73.5% during the 3rd quarter. Vanguard Group Inc. now owns 1,664,828 shares of the company’s stock worth $34,712,000 after buying an additional 705,018 shares during the period. Finally, FMR LLC boosted its position in Atmus Filtration Technologies by 193.9% during the 3rd quarter. FMR LLC now owns 1,077,043 shares of the company’s stock worth $22,456,000 after buying an additional 710,540 shares during the period. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Trading Up 5.8 %

The firm has a market capitalization of $2.51 billion and a price-to-earnings ratio of 15.15. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34. The firm’s 50-day moving average is $29.04 and its 200 day moving average is $24.50.

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.