JPMorgan Chase & Co. Cuts Atmus Filtration Technologies (NYSE:ATMU) Price Target to $44.00

Atmus Filtration Technologies (NYSE:ATMU) had its price objective reduced by JPMorgan Chase & Co. from $46.00 to $44.00 in a research note issued to investors on Tuesday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other equities research analysts also recently issued reports about the stock. Robert W. Baird cut their target price on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a research report on Monday, February 24th. Wells Fargo & Company lowered their price target on shares of Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $42.40.

Atmus Filtration Technologies Stock Down 0.8 %

NYSE:ATMU opened at $38.36 on Tuesday. The firm’s 50 day simple moving average is $39.79 and its 200 day simple moving average is $39.51. The company has a debt-to-equity ratio of 2.61, a current ratio of 2.11 and a quick ratio of 1.35. Atmus Filtration Technologies has a one year low of $27.54 and a one year high of $45.43. The company has a market cap of $3.18 billion, a PE ratio of 17.36, a P/E/G ratio of 3.99 and a beta of 1.83.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, February 21st. The company reported $0.58 EPS for the quarter, topping the consensus estimate of $0.53 by $0.05. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. The business had revenue of $406.70 million for the quarter, compared to the consensus estimate of $399.24 million. On average, research analysts anticipate that Atmus Filtration Technologies will post 2.52 earnings per share for the current year.

Atmus Filtration Technologies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 19th. Shareholders of record on Tuesday, March 4th were issued a dividend of $0.05 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $0.20 annualized dividend and a yield of 0.52%. Atmus Filtration Technologies’s payout ratio is 9.05%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Glenmede Trust Co. NA increased its stake in shares of Atmus Filtration Technologies by 0.7% in the 3rd quarter. Glenmede Trust Co. NA now owns 41,275 shares of the company’s stock valued at $1,549,000 after acquiring an additional 303 shares in the last quarter. LPL Financial LLC increased its stake in shares of Atmus Filtration Technologies by 3.3% in the 4th quarter. LPL Financial LLC now owns 10,102 shares of the company’s stock valued at $396,000 after acquiring an additional 326 shares in the last quarter. Summit Investment Advisors Inc. increased its stake in shares of Atmus Filtration Technologies by 3.9% in the 4th quarter. Summit Investment Advisors Inc. now owns 8,766 shares of the company’s stock valued at $343,000 after acquiring an additional 330 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Atmus Filtration Technologies by 1.7% in the 4th quarter. Franklin Resources Inc. now owns 28,712 shares of the company’s stock valued at $1,125,000 after acquiring an additional 476 shares in the last quarter. Finally, Graham Capital Management L.P. increased its stake in shares of Atmus Filtration Technologies by 1.9% in the 4th quarter. Graham Capital Management L.P. now owns 27,511 shares of the company’s stock valued at $1,078,000 after acquiring an additional 511 shares in the last quarter. 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.