Short Interest in Atmus Filtration Technologies Inc. (NYSE:ATMU) Expands By 30.8%

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totalling 2,420,000 shares, a growth of 30.8% from the August 15th total of 1,850,000 shares. Based on an average daily volume of 1,080,000 shares, the days-to-cover ratio is presently 2.2 days. Currently, 2.9% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

Separately, Robert W. Baird raised their target price on shares of Atmus Filtration Technologies from $36.00 to $37.00 and gave the stock an “outperform” rating in a report on Monday, August 5th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $35.80.

Atmus Filtration Technologies Trading Up 0.4 %

Atmus Filtration Technologies stock traded up $0.13 during trading hours on Monday, hitting $35.46. The company had a trading volume of 1,691,636 shares, compared to its average volume of 2,087,448. The company has a debt-to-equity ratio of 3.28, a quick ratio of 1.30 and a current ratio of 2.07. The firm has a market cap of $2.96 billion, a P/E ratio of 18.09, a P/E/G ratio of 3.98 and a beta of 1.75. The company has a 50-day moving average price of $32.29 and a two-hundred day moving average price of $30.43. Atmus Filtration Technologies has a 1 year low of $18.21 and a 1 year high of $36.06.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings results on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, beating the consensus estimate of $0.58 by $0.13. Atmus Filtration Technologies had a net margin of 10.52% and a return on equity of 187.12%. The firm had revenue of $432.60 million during the quarter, compared to the consensus estimate of $418.33 million. During the same quarter in the previous year, the firm posted $0.63 earnings per share. The company’s revenue was up 4.6% on a year-over-year basis. On average, sell-side analysts anticipate that Atmus Filtration Technologies will post 2.33 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Thursday, August 1st were given a dividend of $0.05 per share. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.56%. The ex-dividend date was Thursday, August 1st. Atmus Filtration Technologies’s payout ratio is 10.20%.

Insider Buying and Selling at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty bought 5,849 shares of Atmus Filtration Technologies stock in a transaction dated Friday, August 23rd. The shares were purchased at an average cost of $34.20 per share, for a total transaction of $200,035.80. Following the acquisition, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, Director Gretchen R. Haggerty acquired 5,849 shares of the stock in a transaction dated Friday, August 23rd. The stock was acquired at an average cost of $34.20 per share, with a total value of $200,035.80. Following the purchase, the director now directly owns 19,882 shares of the company’s stock, valued at $679,964.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Stephen E. Macadam bought 8,250 shares of the company’s stock in a transaction dated Wednesday, August 7th. The stock was bought at an average price of $31.56 per share, with a total value of $260,370.00. Following the acquisition, the director now owns 32,083 shares in the company, valued at approximately $1,012,539.48. The disclosure for this purchase can be found here. 0.43% of the stock is owned by company insiders.

Hedge Funds Weigh In On Atmus Filtration Technologies

Several institutional investors have recently made changes to their positions in ATMU. ProShare Advisors LLC raised its stake in Atmus Filtration Technologies by 3.1% in the second quarter. ProShare Advisors LLC now owns 11,282 shares of the company’s stock worth $325,000 after buying an additional 344 shares in the last quarter. Crossmark Global Holdings Inc. increased its holdings in shares of Atmus Filtration Technologies by 2.8% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 12,999 shares of the company’s stock valued at $374,000 after acquiring an additional 355 shares during the period. GAMMA Investing LLC raised its position in shares of Atmus Filtration Technologies by 103.8% in the 1st quarter. GAMMA Investing LLC now owns 868 shares of the company’s stock worth $28,000 after acquiring an additional 442 shares in the last quarter. Investment Research & Advisory Group Inc. purchased a new stake in shares of Atmus Filtration Technologies during the 1st quarter worth $26,000. Finally, Evermay Wealth Management LLC bought a new stake in Atmus Filtration Technologies during the first quarter valued at about $29,000. Hedge funds and other 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.