Atmus Filtration Technologies (NYSE:ATMU) Stock Price Up 5.8% After Earnings Beat

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s share price rose 5.8% during mid-day trading on Monday after the company announced better than expected quarterly earnings. The company traded as high as $30.17 and last traded at $30.08. Approximately 936,765 shares changed 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.59 by $0.01. Atmus Filtration Technologies had a net margin of 10.03% and a return on equity of 482.30%. The company had revenue of $426.60 million during the quarter, compared to the consensus estimate of $416.18 million. Atmus Filtration Technologies’s revenue was up 1.9% on a year-over-year basis.

Analyst Ratings Changes

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

Institutional Investors Weigh In On Atmus Filtration Technologies

Institutional investors and hedge funds have recently made changes to their positions in the company. Kennedy Capital Management LLC purchased a new stake in Atmus Filtration Technologies in the third quarter worth approximately $2,606,000. Swiss National Bank purchased a new stake in Atmus Filtration Technologies in the third quarter worth approximately $763,000. Victory Capital Management Inc. purchased a new stake in Atmus Filtration Technologies in the third quarter worth approximately $772,000. Vanguard Group Inc. boosted its holdings in Atmus Filtration Technologies by 73.5% in the third quarter. Vanguard Group Inc. now owns 1,664,828 shares of the company’s stock worth $34,712,000 after purchasing an additional 705,018 shares during the last quarter. Finally, Cambiar Investors LLC purchased a new stake in Atmus Filtration Technologies in the third quarter worth approximately $1,972,000. Institutional investors own 32.73% of the company’s stock.

Atmus Filtration Technologies Stock Up 4.4 %

The company’s fifty day moving average is $29.17 and its 200-day moving average is $24.57. The company has a market cap of $2.47 billion and a PE ratio of 15.15. The company has a quick ratio of 1.18, a current ratio of 1.85 and a debt-to-equity ratio of 7.34.

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.