Short Interest in Atmus Filtration Technologies Inc. (NYSE:ATMU) Increases By 25.4%

Atmus Filtration Technologies Inc. (NYSE:ATMU - Get Free Report) saw a large growth in short interest in the month of October. As of October 15th, there was short interest totalling 2,620,000 shares, a growth of 25.4% from the September 30th total of 2,090,000 shares. Based on an average daily trading volume, of 949,300 shares, the short-interest ratio is currently 2.8 days. Currently, 3.2% of the company's shares are sold short.

Insider Activity

In other news, Director Stephen E. Macadam purchased 8,250 shares of the business's stock in a transaction on Wednesday, August 7th. The stock was 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 in the company, valued at $1,012,539.48. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Stephen E. Macadam acquired 8,250 shares of the company's stock in a transaction dated Wednesday, August 7th. The shares were bought at an average cost of $31.56 per share, with a total value of $260,370.00. Following the completion of the transaction, the director now directly owns 32,083 shares of the company's stock, valued at $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Gretchen R. Haggerty bought 5,849 shares of Atmus Filtration Technologies stock in a transaction that occurred on Friday, August 23rd. The shares were bought at an average cost of $34.20 per share, with a total value of $200,035.80. Following the acquisition, the director now directly owns 19,882 shares in the company, valued at $679,964.40. This trade 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 company insiders.

Institutional Investors Weigh In On Atmus Filtration Technologies

Hedge funds have recently made changes to their positions in the company. Evermay Wealth Management LLC bought a new position in shares of Atmus Filtration Technologies during the 1st quarter valued at $29,000. Quarry LP bought a new stake in Atmus Filtration Technologies in the 2nd quarter valued at $29,000. GAMMA Investing LLC boosted its holdings in shares of Atmus Filtration Technologies by 89.3% during the 3rd quarter. GAMMA Investing LLC now owns 1,641 shares of the company's stock valued at $62,000 after purchasing an additional 774 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of Atmus Filtration Technologies in the second quarter worth about $68,000. Finally, nVerses Capital LLC purchased a new position in Atmus Filtration Technologies during the 2nd quarter valued at approximately $115,000. 32.73% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

ATMU has been the topic of a number of recent research reports. JPMorgan Chase & Co. lifted their price target on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an "overweight" rating in a report on Friday, October 11th. Robert W. Baird increased their target price on Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an "outperform" rating in a report on Wednesday, October 16th. Wells Fargo & Company boosted their price target 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. Finally, Northland Securities raised their price objective on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the company an "outperform" rating in a research note on Tuesday, October 15th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, Atmus Filtration Technologies has a consensus rating of "Buy" and an average price target of $42.80.

Atmus Filtration Technologies Stock Performance

Atmus Filtration Technologies stock traded up $0.09 during mid-day trading on Wednesday, reaching $39.08. The company's stock had a trading volume of 391,587 shares, compared to its average volume of 1,879,773. The firm's fifty day moving average price is $36.75 and its two-hundred day moving average price is $32.49. The company has a market capitalization of $3.26 billion, a P/E ratio of 19.92, a PEG ratio of 4.40 and a beta of 1.75. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. Atmus Filtration Technologies has a 12-month low of $18.21 and a 12-month high of $40.29.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last released its earnings results on Friday, August 2nd. The company reported $0.71 EPS for the quarter, beating analysts' consensus estimates of $0.58 by $0.13. The business had revenue of $432.60 million for the quarter, compared to analysts' expectations 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 was up 4.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.63 earnings per share. Sell-side analysts predict that Atmus Filtration Technologies will post 2.33 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st will be given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date is Thursday, October 31st. Atmus Filtration Technologies's payout ratio is currently 10.20%.

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.