Atmus Filtration Technologies (NYSE:ATMU) Shares Gap Up to $30.43

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) gapped up prior to trading on Thursday . The stock had previously closed at $30.43, but opened at $31.38. Atmus Filtration Technologies shares last traded at $31.87, with a volume of 92,901 shares.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ATMU shares. Robert W. Baird boosted their target price on Atmus Filtration Technologies from $29.00 to $37.00 and gave the stock an “outperform” rating in a report on Wednesday, April 17th. Northland Securities raised shares of Atmus Filtration Technologies from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Wednesday, March 20th. JPMorgan Chase & Co. boosted their price target on shares of Atmus Filtration Technologies from $36.00 to $38.00 and gave the stock an “overweight” rating in a research note on Monday, April 15th. Wells Fargo & Company cut their price target on shares of Atmus Filtration Technologies from $37.00 to $36.00 and set an “overweight” rating on the stock in a research note on Monday, May 6th. Finally, The Goldman Sachs Group raised their price target on Atmus Filtration Technologies from $30.00 to $34.00 and gave the company a “buy” rating in a research note on Tuesday, April 16th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Atmus Filtration Technologies presently has an average rating of “Buy” and a consensus price target of $35.80.

Atmus Filtration Technologies Price Performance

The stock has a market capitalization of $2.65 billion, a price-to-earnings ratio of 16.26, a P/E/G ratio of 3.81 and a beta of 1.76. The company has a fifty day simple moving average of $29.30 and a 200 day simple moving average of $27.32. The company has a debt-to-equity ratio of 4.83, a quick ratio of 1.27 and a current ratio of 2.00.

Atmus Filtration Technologies (NYSE:ATMU) last announced its earnings results on Friday, May 3rd. The company reported $0.60 EPS for the quarter, beating the consensus estimate of $0.59 by $0.01. The company had revenue of $426.60 million for the quarter, compared to analyst estimates of $416.18 million. Atmus Filtration Technologies had a return on equity of 314.52% and a net margin of 10.03%. The business’s revenue was up 1.9% on a year-over-year basis. Equities research analysts forecast that Atmus Filtration Technologies Inc. will post 2.26 EPS for the current fiscal year.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several institutional investors and hedge funds have recently added to or reduced their stakes in ATMU. Vanguard Group Inc. grew its position in Atmus Filtration Technologies by 366.5% during the first quarter. Vanguard Group Inc. now owns 8,080,641 shares of the company’s stock worth $260,601,000 after buying an additional 6,348,391 shares in the last quarter. Franklin Resources Inc. raised its holdings in Atmus Filtration Technologies by 1.1% in the fourth quarter. Franklin Resources Inc. now owns 2,602,746 shares of the company’s stock worth $61,139,000 after purchasing an additional 29,568 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Atmus Filtration Technologies by 38.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,088,496 shares of the company’s stock valued at $67,355,000 after acquiring an additional 583,078 shares during the period. Hotchkis & Wiley Capital Management LLC grew its holdings in Atmus Filtration Technologies by 0.7% in the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 1,946,220 shares of the company’s stock worth $45,717,000 after purchasing an additional 13,120 shares during the period. Finally, Weiss Asset Management LP boosted its holdings in Atmus Filtration Technologies by 5.6% in the fourth quarter. Weiss Asset Management LP now owns 1,931,182 shares of the company’s stock worth $45,363,000 after acquiring an additional 102,479 shares in the last quarter. 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.