Atmus Filtration Technologies (NYSE:ATMU) Price Target Cut to $40.00 by Analysts at Wells Fargo & Company

Atmus Filtration Technologies (NYSE:ATMU) had its price objective cut by Wells Fargo & Company from $45.00 to $40.00 in a report issued on Tuesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

Several other analysts have also issued reports on the company. Robert W. Baird upped their price target on Atmus Filtration Technologies from $42.00 to $48.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 12th. Northland Securities increased their target price on shares of Atmus Filtration Technologies from $49.00 to $50.00 and gave the stock an “outperform” rating in a report on Tuesday, November 12th. Finally, JPMorgan Chase & Co. raised their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the stock an “overweight” rating in a research note on Friday, October 11th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $43.80.

Atmus Filtration Technologies Stock Performance

ATMU opened at $39.34 on Tuesday. Atmus Filtration Technologies has a 12-month low of $21.09 and a 12-month high of $45.43. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 18.30, a PEG ratio of 4.42 and a beta of 1.80. 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 company’s 50 day moving average is $41.16 and its 200 day moving average is $36.35.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.09. The business had revenue of $404.00 million for the quarter, compared to analysts’ expectations of $403.40 million. Atmus Filtration Technologies had a net margin of 10.84% and a return on equity of 134.28%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.52 EPS. On average, equities research analysts predict that Atmus Filtration Technologies will post 2.45 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were issued 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 was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio (DPR) is currently 9.30%.

Institutional Trading of Atmus Filtration Technologies

A number of institutional investors and hedge funds have recently bought and sold shares of ATMU. Thrivent Financial for Lutherans increased its holdings in shares of Atmus Filtration Technologies by 854.0% in the second quarter. Thrivent Financial for Lutherans now owns 185,745 shares of the company’s stock worth $5,346,000 after purchasing an additional 166,274 shares during the last quarter. Davidson Kempner Capital Management LP purchased a new position in Atmus Filtration Technologies during the 2nd quarter valued at approximately $15,475,000. Algert Global LLC raised its holdings in shares of Atmus Filtration Technologies by 516.7% during the 3rd quarter. Algert Global LLC now owns 161,513 shares of the company’s stock worth $6,062,000 after acquiring an additional 135,325 shares in the last quarter. Hsbc Holdings PLC bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at approximately $1,396,000. Finally, Gabelli Funds LLC bought a new position in shares of Atmus Filtration Technologies during the 2nd quarter valued at approximately $561,000. 32.73% of the stock is currently owned by institutional investors.

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.