Wells Fargo & Company Cuts Atmus Filtration Technologies (NYSE:ATMU) Price Target to $40.00

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

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

Atmus Filtration Technologies Stock Up 0.1 %

Shares of Atmus Filtration Technologies stock opened at $39.45 on Tuesday. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. Atmus Filtration Technologies has a 1 year low of $21.09 and a 1 year high of $45.43. The stock has a 50-day moving average price of $41.18 and a 200 day moving average price of $36.47. The company has a market cap of $3.28 billion, a P/E ratio of 18.35, a P/E/G ratio of 4.42 and a beta of 1.80.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, November 8th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.52 by $0.09. The company had revenue of $404.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.52 earnings per share. As a group, analysts expect that Atmus Filtration Technologies will post 2.45 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 13th. Stockholders of record on Thursday, October 31st were given a dividend of $0.05 per share. This represents a $0.20 annualized dividend and a dividend yield of 0.51%. The ex-dividend date was Thursday, October 31st. Atmus Filtration Technologies’s dividend payout ratio is 9.30%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ATMU. JPMorgan Chase & Co. grew its holdings in Atmus Filtration Technologies by 8.2% during the third quarter. JPMorgan Chase & Co. now owns 286,098 shares of the company’s stock valued at $10,737,000 after purchasing an additional 21,687 shares during the period. Tidal Investments LLC bought a new position in shares of Atmus Filtration Technologies during the third quarter worth $552,000. Hohimer Wealth Management LLC acquired a new position in shares of Atmus Filtration Technologies in the 3rd quarter valued at $308,000. Geode Capital Management LLC increased its position in shares of Atmus Filtration Technologies by 2.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,894,740 shares of the company’s stock valued at $71,123,000 after buying an additional 39,710 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in Atmus Filtration Technologies during the 3rd quarter worth $262,000. 32.73% of the stock is currently owned by institutional investors.

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.