Atmus Filtration Technologies Sees Unusually High Options Volume (NYSE:ATMU)

Atmus Filtration Technologies Inc. (NYSE:ATMU) was the recipient of unusually large options trading on Friday. Stock traders acquired 10,324 call options on the company. This is an increase of approximately 839% compared to the typical volume of 1,099 call options.

Insider Transactions at Atmus Filtration Technologies

In other Atmus Filtration Technologies news, Director Stephen E. Macadam bought 5,200 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were bought at an average price of $19.49 per share, with a total value of $101,348.00. Following the purchase, the director now owns 19,268 shares of the company’s stock, valued at $375,533.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Atmus Filtration Technologies

Hedge funds have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its position in shares of Atmus Filtration Technologies by 2.7% during the third quarter. The Manufacturers Life Insurance Company now owns 630,438 shares of the company’s stock valued at $13,145,000 after buying an additional 16,445 shares during the period. Royal Bank of Canada boosted its holdings in Atmus Filtration Technologies by 54.3% during the 3rd quarter. Royal Bank of Canada now owns 29,555 shares of the company’s stock valued at $616,000 after acquiring an additional 10,404 shares during the period. Kennedy Capital Management LLC bought a new stake in shares of Atmus Filtration Technologies during the third quarter worth $2,606,000. Legal & General Group Plc purchased a new stake in Atmus Filtration Technologies in the 3rd quarter valued at about $395,000. Finally, Ameriprise Financial Inc. grew its stake in Atmus Filtration Technologies by 17.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 353,025 shares of the company’s stock worth $7,361,000 after acquiring an additional 51,900 shares in the last quarter. 20.68% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on ATMU. JPMorgan Chase & Co. dropped their target price on shares of Atmus Filtration Technologies from $29.00 to $27.00 and set an “overweight” rating for the company in a research report on Monday, October 16th. Robert W. Baird increased their price objective on shares of Atmus Filtration Technologies from $24.00 to $26.00 in a report on Thursday, August 10th. Finally, Wells Fargo & Company reduced their target price on Atmus Filtration Technologies from $26.00 to $24.00 in a report on Monday, October 9th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $25.50.

Atmus Filtration Technologies Price Performance

Atmus Filtration Technologies stock traded down $0.16 during mid-day trading on Friday, reaching $20.71. 266,860 shares of the company’s stock traded hands, compared to its average volume of 514,019. The firm’s 50 day moving average price is $20.65. Atmus Filtration Technologies has a 12-month low of $18.21 and a 12-month high of $25.20. The company has a quick ratio of 1.16, a current ratio of 1.85 and a debt-to-equity ratio of 17.33.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, November 3rd. The company reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Atmus Filtration Technologies had a return on equity of 79.43% and a net margin of 10.67%. The business had revenue of $396.20 million during the quarter, compared to analyst estimates of $390.93 million. The firm’s revenue was down 1.2% compared to the same quarter last year. Sell-side analysts forecast that Atmus Filtration Technologies will post 2.25 EPS for the current fiscal year.

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. It offers fuel filters, lube filters, air filters, crankcase ventilation, hydraulic filters, and coolants, as well as fuel additives.