Atmus Filtration Technologies (NYSE:ATMU) Downgraded to “Equal Weight” Rating by Wells Fargo & Company

Wells Fargo & Company downgraded shares of Atmus Filtration Technologies (NYSE:ATMU) from an overweight rating to an equal weight rating in a research note released on Monday, MarketBeat.com reports. They currently have $45.00 price target on the stock, up from their previous price target of $42.00.

Several other brokerages also recently issued reports on ATMU. Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 16th. JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Finally, Northland Securities boosted their target price on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Atmus Filtration Technologies has a consensus rating of “Moderate Buy” and an average price target of $44.80.

Atmus Filtration Technologies Stock Performance

Shares of ATMU opened at $43.13 on Monday. The stock has a market cap of $3.58 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.79 and a beta of 1.68. Atmus Filtration Technologies has a 52 week low of $20.44 and a 52 week high of $44.66. The company has a quick ratio of 1.30, a current ratio of 2.11 and a debt-to-equity ratio of 2.61. The business’s 50 day moving average price is $38.23 and its 200-day moving average price is $33.23.

Atmus Filtration Technologies (NYSE:ATMU) last issued its quarterly earnings results on Friday, November 8th. The company reported $0.61 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.52 by $0.09. Atmus Filtration Technologies had a return on equity of 134.28% and a net margin of 10.84%. The business had revenue of $404.00 million during the quarter, compared to analyst estimates of $403.40 million. During the same quarter in the prior year, the business posted $0.52 EPS. Atmus Filtration Technologies’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Atmus Filtration Technologies will post 2.37 earnings per share for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 13th. Shareholders of record on Thursday, October 31st were given a $0.05 dividend. This represents a $0.20 dividend on an annualized basis and a dividend yield of 0.46%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio is presently 9.30%.

Insider Activity at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Gretchen R. Haggerty purchased 5,849 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The stock was purchased at an average price of $34.20 per share, for a total transaction of $200,035.80. Following the purchase, the director now directly owns 19,882 shares in the company, valued at approximately $679,964.40. This trade represents a 41.68 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.43% of the company’s stock.

Institutional Trading of Atmus Filtration Technologies

Several hedge funds have recently made changes to their positions in ATMU. Evermay Wealth Management LLC purchased a new position in Atmus Filtration Technologies during the 1st quarter valued at about $29,000. Quarry LP purchased a new stake in Atmus Filtration Technologies in the second quarter valued at approximately $29,000. GAMMA Investing LLC grew its stake in Atmus Filtration Technologies by 89.3% during the third quarter. GAMMA Investing LLC now owns 1,641 shares of the company’s stock worth $62,000 after buying an additional 774 shares during the period. Rothschild Investment LLC purchased a new stake in Atmus Filtration Technologies during the second quarter worth approximately $68,000. Finally, KBC Group NV grew its stake in Atmus Filtration Technologies by 42.1% during the third quarter. KBC Group NV now owns 2,424 shares of the company’s stock worth $91,000 after buying an additional 718 shares during the period. 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.