Atmus Filtration Technologies (NYSE:ATMU) Hits New 52-Week High Following Analyst Upgrade

Atmus Filtration Technologies Inc. (NYSE:ATMU - Get Free Report) shares reached a new 52-week high during trading on Wednesday after Robert W. Baird raised their price target on the stock from $37.00 to $42.00. Robert W. Baird currently has an outperform rating on the stock. Atmus Filtration Technologies traded as high as $40.15 and last traded at $40.00, with a volume of 221720 shares traded. The stock had previously closed at $39.16.

ATMU has been the subject of several other reports. Wells Fargo & Company raised their target price on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. JPMorgan Chase & Co. raised their price target on Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Finally, Northland Securities boosted their price target on Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an "outperform" rating in a research note on Tuesday. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus target price of $42.80.

Insider Buying and Selling

In other Atmus Filtration Technologies news, Director Stephen E. Macadam bought 8,250 shares of Atmus Filtration Technologies stock in a transaction that occurred on Wednesday, August 7th. The stock was purchased at an average price of $31.56 per share, with a total value of $260,370.00. Following the completion of the acquisition, the director now directly owns 32,083 shares in the company, valued at approximately $1,012,539.48. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Stephen E. Macadam bought 8,250 shares of the stock in a transaction dated Wednesday, August 7th. The shares were purchased at an average price of $31.56 per share, for a total transaction of $260,370.00. Following the completion of the purchase, the director now directly owns 32,083 shares of the company's stock, valued at $1,012,539.48. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Gretchen R. Haggerty purchased 5,849 shares of Atmus Filtration Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were bought 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 of the company's stock, valued at $679,964.40. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.43% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Atmus Filtration Technologies

Hedge funds have recently modified their holdings of the company. Wellington Management Group LLP increased its position in shares of Atmus Filtration Technologies by 7.9% in the fourth quarter. Wellington Management Group LLP now owns 828,045 shares of the company's stock valued at $19,451,000 after buying an additional 60,714 shares in the last quarter. Nomura Holdings Inc. purchased a new stake in Atmus Filtration Technologies in the 4th quarter worth $2,764,000. ST Germain D J Co. Inc. acquired a new position in Atmus Filtration Technologies during the first quarter worth $145,000. GAMMA Investing LLC lifted its holdings in Atmus Filtration Technologies by 103.8% during the first quarter. GAMMA Investing LLC now owns 868 shares of the company's stock valued at $28,000 after purchasing an additional 442 shares in the last quarter. Finally, CVA Family Office LLC acquired a new stake in shares of Atmus Filtration Technologies in the first quarter valued at about $85,000. 32.73% of the stock is owned by hedge funds and other institutional investors.

Atmus Filtration Technologies Stock Up 2.1 %

The company has a debt-to-equity ratio of 3.28, a current ratio of 2.07 and a quick ratio of 1.30. The business's 50 day moving average price is $35.42 and its 200 day moving average price is $32.01. The firm has a market cap of $3.33 billion, a PE ratio of 20.41, a PEG ratio of 4.40 and a beta of 1.75.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last announced its quarterly earnings data on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating analysts' consensus estimates of $0.58 by $0.13. The company had revenue of $432.60 million for the quarter, compared to analyst estimates of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.63 EPS. On average, equities research analysts expect that Atmus Filtration Technologies Inc. will post 2.33 earnings per share for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were issued a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.50%. The ex-dividend date was Thursday, August 1st. Atmus Filtration Technologies's dividend payout ratio is currently 10.20%.

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.