Wells Fargo & Company Raises Atmus Filtration Technologies (NYSE:ATMU) Price Target to $39.00

Atmus Filtration Technologies (NYSE:ATMU) had its price objective increased by Wells Fargo & Company from $37.00 to $39.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other equities analysts have also recently issued reports on ATMU. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a “buy” rating to a “neutral” rating and set a $39.00 price objective on the stock. in a research note on Tuesday, May 27th. JPMorgan Chase & Co. boosted their price target on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the stock an “overweight” rating in a research note on Monday, May 5th. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Atmus Filtration Technologies presently has a consensus rating of “Moderate Buy” and an average price target of $42.80.

Atmus Filtration Technologies Stock Performance

Shares of ATMU stock opened at $37.78 on Tuesday. The stock’s 50-day moving average price is $36.33 and its 200 day moving average price is $37.65. The company has a quick ratio of 1.46, a current ratio of 2.23 and a debt-to-equity ratio of 2.12. The stock has a market capitalization of $3.12 billion, a PE ratio of 17.10, a price-to-earnings-growth ratio of 4.66 and a beta of 1.64. Atmus Filtration Technologies has a 52-week low of $28.01 and a 52-week high of $45.43.

Atmus Filtration Technologies (NYSE:ATMU) last released its earnings results on Friday, May 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. Atmus Filtration Technologies had a return on equity of 94.85% and a net margin of 11.14%. The business had revenue of $110.50 million for the quarter, compared to analyst estimates of $424.03 million. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue for the quarter was down 2.3% compared to the same quarter last year. As a group, equities research analysts forecast that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 18th. Shareholders of record on Tuesday, June 3rd were given a $0.05 dividend. This represents a $0.20 annualized dividend and a yield of 0.53%. The ex-dividend date was Tuesday, June 3rd. Atmus Filtration Technologies’s payout ratio is 9.05%.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of hedge funds and other institutional investors have recently bought and sold shares of ATMU. Jones Financial Companies Lllp lifted its position in shares of Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after acquiring an additional 412 shares during the period. SouthState Corp acquired a new stake in shares of Atmus Filtration Technologies in the 1st quarter worth approximately $27,000. New Age Alpha Advisors LLC purchased a new position in Atmus Filtration Technologies in the 4th quarter valued at approximately $32,000. Tower Research Capital LLC TRC increased its stake in Atmus Filtration Technologies by 295.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company’s stock valued at $54,000 after purchasing an additional 1,022 shares in the last quarter. Finally, Quarry LP raised its holdings in Atmus Filtration Technologies by 70.9% during the fourth quarter. Quarry LP now owns 1,993 shares of the company’s stock worth $78,000 after purchasing an additional 827 shares during the last quarter. Institutional investors and hedge funds own 32.73% of the company’s stock.

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.