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

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) was downgraded by investment analysts at Wells Fargo & Company from an "overweight" rating to an "equal weight" rating in a report released on Monday, MarketBeat reports. They currently have a $45.00 price objective on the stock, up from their prior price objective of $42.00. Wells Fargo & Company's price target indicates a potential upside of 4.34% from the stock's current price.

Other equities analysts have also recently issued reports about the company. Northland Securities increased their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an "outperform" rating in a report on Tuesday, October 15th. Robert W. Baird increased their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an "outperform" rating in a report on Wednesday, October 16th. Finally, JPMorgan Chase & Co. boosted their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an "overweight" rating in a research note on Friday, October 11th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $43.40.

Atmus Filtration Technologies Stock Down 2.6 %

ATMU traded down $1.14 during trading on Monday, hitting $43.13. 376,318 shares of the company's stock traded hands, compared to its average volume of 1,845,111. Atmus Filtration Technologies has a 12-month low of $19.04 and a 12-month high of $44.66. The company's 50 day simple moving average is $37.72 and its two-hundred day simple moving average is $32.99. The company has a current ratio of 2.07, a quick ratio of 1.30 and a debt-to-equity ratio of 3.28. The stock has a market capitalization of $3.60 billion, a price-to-earnings ratio of 19.91, a PEG ratio of 4.74 and a beta of 1.68.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings results 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 10.52% and a return on equity of 187.12%. The firm had revenue of $404.00 million for the quarter, compared to the consensus estimate of $403.40 million. During the same quarter last year, the firm posted $0.52 EPS. The business's quarterly revenue was up 2.0% compared to the same quarter last year. Analysts predict that Atmus Filtration Technologies will post 2.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, Director Gretchen R. Haggerty acquired 5,849 shares of the stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $34.20 per share, with a total value of $200,035.80. Following the transaction, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.43% of the company's stock.

Institutional Trading of Atmus Filtration Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATMU. Vanguard Group Inc. increased its stake in Atmus Filtration Technologies by 366.5% in the 1st quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company's stock worth $260,601,000 after acquiring an additional 6,348,391 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 583,078 shares during the last quarter. American Century Companies Inc. raised its position in shares of Atmus Filtration Technologies by 2.8% during the 2nd quarter. American Century Companies Inc. now owns 1,981,937 shares of the company's stock valued at $57,040,000 after buying an additional 54,051 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Atmus Filtration Technologies by 26.6% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 1,153,484 shares of the company's stock valued at $43,290,000 after acquiring an additional 242,718 shares during the last quarter. Finally, Victory Capital Management Inc. grew its position in Atmus Filtration Technologies by 83.5% in the second quarter. Victory Capital Management Inc. now owns 1,125,679 shares of the company's stock worth $32,397,000 after acquiring an additional 512,390 shares in the last quarter. Institutional investors own 32.73% of the company's stock.

About Atmus Filtration Technologies

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.