Atmus Filtration Technologies Inc. (NYSE:ATMU) Given Consensus Rating of “Moderate Buy” by Brokerages

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) have been given an average rating of “Moderate Buy” by the five analysts that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have issued ratings on the stock in the last year is $42.80.

Several research analysts recently issued reports on the stock. The Goldman Sachs Group cut shares of Atmus Filtration Technologies from a “buy” rating to a “neutral” rating and set a $39.00 target price for the company. in a report 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 report on Monday, May 5th. Wells Fargo & Company boosted their target price on shares of Atmus Filtration Technologies from $37.00 to $39.00 and gave the company an “equal weight” rating in a report on Tuesday, July 1st. Robert W. Baird boosted their target price on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the company an “outperform” rating in a report on Monday, August 11th. Finally, Wall Street Zen raised shares of Atmus Filtration Technologies from a “hold” rating to a “strong-buy” rating in a research note on Saturday.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Eminence Capital LP increased its stake in Atmus Filtration Technologies by 79.0% during the fourth quarter. Eminence Capital LP now owns 4,592,614 shares of the company’s stock valued at $179,939,000 after purchasing an additional 2,027,617 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Atmus Filtration Technologies in the 4th quarter valued at about $63,949,000. Nuveen LLC acquired a new stake in Atmus Filtration Technologies in the 1st quarter valued at about $48,966,000. Invesco Ltd. lifted its stake in Atmus Filtration Technologies by 84.8% during the first quarter. Invesco Ltd. now owns 2,157,850 shares of the company’s stock valued at $79,258,000 after buying an additional 990,468 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Atmus Filtration Technologies during the fourth quarter valued at about $26,152,000. 32.73% of the stock is owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Down 3.8%

Shares of NYSE ATMU opened at $43.46 on Friday. The firm’s 50-day moving average price is $38.01 and its 200-day moving average price is $37.39. The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 1.75. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 19.23, a P/E/G ratio of 5.44 and a beta of 1.64. Atmus Filtration Technologies has a 12-month low of $30.94 and a 12-month high of $45.92.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, August 8th. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The firm had revenue of $453.50 million for the quarter, compared to the consensus estimate of $433.51 million. Atmus Filtration Technologies had a net margin of 11.22% and a return on equity of 83.23%. The company’s quarterly revenue was up 4.8% on a year-over-year basis. During the same period last year, the firm earned $0.71 earnings per share. On average, equities research analysts anticipate that Atmus Filtration Technologies will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.055 per share. This represents a $0.22 dividend on an annualized basis and a dividend yield of 0.5%. This is a boost from Atmus Filtration Technologies’s previous quarterly dividend of $0.05. The ex-dividend date is Tuesday, August 26th. Atmus Filtration Technologies’s payout ratio is presently 8.85%.

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.