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

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

Atmus Filtration Technologies Price Performance

Shares of NYSE ATMU traded up $0.13 during mid-day trading on Monday, reaching $35.46. The company’s stock 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 current ratio of 2.07 and a quick ratio of 1.30. Atmus Filtration Technologies has a 52 week low of $18.21 and a 52 week high of $36.06. The stock has a fifty day moving average of $32.29 and a two-hundred day moving average of $30.43. The firm has a market capitalization of $2.96 billion, a PE ratio of 18.09, a P/E/G ratio of 3.98 and a beta of 1.75.

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, topping the consensus estimate of $0.58 by $0.13. The business had revenue of $432.60 million during the quarter, compared to the consensus estimate of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The firm’s revenue for the quarter was up 4.6% compared to the same quarter last year. During the same period in the prior year, the company posted $0.63 EPS. As a group, sell-side analysts anticipate that Atmus Filtration Technologies will post 2.33 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

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

Analysts Set New Price Targets

Separately, Robert W. Baird increased 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 investment analysts have rated the stock with a buy rating, According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $35.80.

Insider Activity at Atmus Filtration Technologies

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

Institutional Inflows and Outflows

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