Atmus Filtration Technologies (NYSE:ATMU) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Atmus Filtration Technologies (NYSE:ATMU) from a hold rating to a strong-buy rating in a research report report published on Saturday morning.

ATMU has been the subject of several other research reports. JPMorgan Chase & Co. boosted their price target on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a report on Monday, May 5th. Robert W. Baird increased their price target on Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an “outperform” rating in a research note on Monday, August 11th. Wells Fargo & Company raised their price objective on shares of Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 1st. Finally, The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a report on Tuesday, May 27th. Two research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $42.80.

Atmus Filtration Technologies Trading Up 1.3%

Shares of ATMU opened at $44.02 on Friday. Atmus Filtration Technologies has a one year low of $30.94 and a one year high of $45.92. The stock has a 50-day moving average price of $38.16 and a 200 day moving average price of $37.33. The company has a debt-to-equity ratio of 1.75, a quick ratio of 1.43 and a current ratio of 2.15. The company has a market capitalization of $3.62 billion, a P/E ratio of 19.48, a P/E/G ratio of 5.23 and a beta of 1.64.

Atmus Filtration Technologies (NYSE:ATMU) last issued its earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping the consensus estimate of $0.66 by $0.09. The company had revenue of $453.50 million during the quarter, compared to analyst estimates of $433.51 million. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%. The business’s revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the firm earned $0.71 EPS. Sell-side analysts forecast that Atmus Filtration Technologies will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Shareholders of record on Tuesday, August 26th will be given a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.5%. This is a positive change from Atmus Filtration Technologies’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 26th. Atmus Filtration Technologies’s dividend payout ratio (DPR) is currently 8.85%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of ATMU. Geneos Wealth Management Inc. grew its holdings in shares of Atmus Filtration Technologies by 93.6% in the 2nd quarter. Geneos Wealth Management Inc. now owns 1,332 shares of the company’s stock valued at $49,000 after buying an additional 644 shares during the period. Tower Research Capital LLC TRC lifted its stake in Atmus Filtration Technologies by 70.8% in the 2nd quarter. Tower Research Capital LLC TRC now owns 14,246 shares of the company’s stock valued at $519,000 after purchasing an additional 5,907 shares during the last quarter. Lazard Asset Management LLC grew its holdings in Atmus Filtration Technologies by 4.9% during the second quarter. Lazard Asset Management LLC now owns 33,509 shares of the company’s stock worth $1,220,000 after purchasing an additional 1,553 shares during the period. HRT Financial LP increased its position in Atmus Filtration Technologies by 82.4% during the second quarter. HRT Financial LP now owns 45,701 shares of the company’s stock worth $1,664,000 after buying an additional 20,640 shares during the last quarter. Finally, Eminence Capital LP increased its position in Atmus Filtration Technologies by 12.0% during the second quarter. Eminence Capital LP now owns 6,448,993 shares of the company’s stock worth $234,872,000 after buying an additional 691,939 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors and hedge funds.

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.