Atmus Filtration Technologies (NYSE:ATMU) Trading Up 5.8% After Strong Earnings

Shares of Atmus Filtration Technologies Inc. (NYSE:ATMU) rose 5.8% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The stock traded as high as $30.17 and last traded at $30.08. Approximately 936,765 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 3,101,987 shares. The stock had previously closed at $28.44.

The company reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.01. Atmus Filtration Technologies had a return on equity of 482.30% and a net margin of 10.03%. The firm had revenue of $426.60 million during the quarter, compared to analyst estimates of $416.18 million. The business’s revenue was up 1.9% on a year-over-year basis.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of institutional investors have recently made changes to their positions in ATMU. Sei Investments Co. grew its stake in shares of Atmus Filtration Technologies by 78.2% in the first quarter. Sei Investments Co. now owns 270,428 shares of the company’s stock worth $8,721,000 after acquiring an additional 118,670 shares in the last quarter. Susquehanna Fundamental Investments LLC purchased a new position in shares of Atmus Filtration Technologies during the first quarter worth about $1,250,000. Susquehanna Portfolio Strategies LLC acquired a new stake in shares of Atmus Filtration Technologies during the first quarter worth about $623,000. Swiss National Bank lifted its holdings in shares of Atmus Filtration Technologies by 472.5% in the 1st quarter. Swiss National Bank now owns 188,349 shares of the company’s stock valued at $6,074,000 after purchasing an additional 155,449 shares during the last quarter. Finally, Forsta AP Fonden acquired a new stake in shares of Atmus Filtration Technologies in the 1st quarter valued at about $334,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

Atmus Filtration Technologies Stock Down 0.0 %

The stock has a market cap of $2.47 billion and a PE ratio of 15.14. The business has a 50 day moving average of $29.28 and a 200-day moving average of $24.63. The company has a current ratio of 1.85, a quick ratio of 1.18 and a debt-to-equity ratio of 7.34.

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.