Atmus Filtration Technologies Inc. (NYSE:ATMU) Sees Large Increase in Short Interest

Atmus Filtration Technologies Inc. (NYSE:ATMU - Get Free Report) saw a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 1,970,000 shares, an increase of 27.9% from the February 28th total of 1,540,000 shares. Approximately 2.4% of the company's stock are sold short. Based on an average daily volume of 769,300 shares, the days-to-cover ratio is currently 2.6 days.

Institutional Trading of Atmus Filtration Technologies

Several institutional investors and hedge funds have recently made changes to their positions in ATMU. Eminence Capital LP increased its position in Atmus Filtration Technologies by 79.0% during the fourth quarter. Eminence Capital LP now owns 4,592,614 shares of the company's stock worth $179,939,000 after buying an additional 2,027,617 shares during the period. T. Rowe Price Investment Management Inc. purchased a new position in shares of Atmus Filtration Technologies during the fourth quarter worth approximately $63,949,000. Invesco Ltd. increased its holdings in shares of Atmus Filtration Technologies by 806.1% in the 4th quarter. Invesco Ltd. now owns 1,167,382 shares of the company's stock valued at $45,738,000 after acquiring an additional 1,038,541 shares during the period. Raymond James Financial Inc. acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at $26,152,000. Finally, D. E. Shaw & Co. Inc. raised its position in Atmus Filtration Technologies by 44.0% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,911,153 shares of the company's stock valued at $74,879,000 after purchasing an additional 584,270 shares during the last quarter. 32.73% of the stock is owned by hedge funds and other institutional investors.

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Atmus Filtration Technologies Stock Down 5.1 %

ATMU stock traded down $1.77 during trading on Friday, hitting $33.01. 1,077,934 shares of the company's stock were exchanged, compared to its average volume of 1,052,725. The business has a 50-day moving average price of $38.75 and a two-hundred day moving average price of $39.75. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The stock has a market capitalization of $2.75 billion, a price-to-earnings ratio of 14.94, a PEG ratio of 3.99 and a beta of 1.78. Atmus Filtration Technologies has a 52-week low of $27.62 and a 52-week high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its quarterly earnings data on Friday, February 21st. The company reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.05. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. The company had revenue of $406.70 million for the quarter, compared to analysts' expectations of $399.24 million. As a group, equities research analysts expect that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.61%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies's payout ratio is 9.05%.

Wall Street Analyst Weigh In

ATMU has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Atmus Filtration Technologies from $44.00 to $46.00 and gave the company an "overweight" rating in a research note on Thursday, March 27th. Wells Fargo & Company decreased their price target on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an "equal weight" rating for the company in a research note on Monday, February 24th. Finally, Robert W. Baird lowered 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 report on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $42.80.

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.