JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Atmus Filtration Technologies (NYSE:ATMU) Stock

Atmus Filtration Technologies (NYSE:ATMU) had its price target lifted by JPMorgan Chase & Co. from $44.00 to $46.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages also recently commented on ATMU. Wells Fargo & Company reduced their price objective on Atmus Filtration Technologies from $40.00 to $39.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. Robert W. Baird dropped their price objective on shares of Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating for the company in a research note on Monday, February 24th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Atmus Filtration Technologies presently has an average rating of “Moderate Buy” and a consensus target price of $42.80.

Atmus Filtration Technologies Price Performance

Shares of ATMU opened at $37.57 on Thursday. The firm’s 50 day moving average price is $39.45 and its 200 day moving average price is $39.73. Atmus Filtration Technologies has a twelve month low of $27.62 and a twelve month high of $45.43. The firm has a market cap of $3.13 billion, a PE ratio of 17.00, a PEG ratio of 3.99 and a beta of 1.83. The company has a debt-to-equity ratio of 2.61, a quick ratio of 1.35 and a current ratio of 2.11.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings results on Friday, February 21st. The company reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.53 by $0.05. The company had revenue of $406.70 million for the quarter, compared to analyst estimates of $399.24 million. Atmus Filtration Technologies had a net margin of 11.12% and a return on equity of 120.81%. As a group, research analysts expect that Atmus Filtration Technologies will post 2.52 EPS for the current fiscal year.

Atmus Filtration Technologies Dividend Announcement

The business also recently disclosed 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. This represents a $0.20 dividend on an annualized basis and a yield of 0.53%. The ex-dividend date was Tuesday, March 4th. Atmus Filtration Technologies’s dividend payout ratio is currently 9.05%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ATMU. JPMorgan Chase & Co. boosted its stake in Atmus Filtration Technologies by 8.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 286,098 shares of the company’s stock worth $10,737,000 after acquiring an additional 21,687 shares during the last quarter. Atom Investors LP grew its stake in Atmus Filtration Technologies by 24.3% in the third quarter. Atom Investors LP now owns 103,441 shares of the company’s stock valued at $3,882,000 after acquiring an additional 20,201 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Atmus Filtration Technologies by 5.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 713,143 shares of the company’s stock worth $26,764,000 after acquiring an additional 39,114 shares in the last quarter. Assenagon Asset Management S.A. acquired a new position in shares of Atmus Filtration Technologies in the 4th quarter valued at approximately $14,877,000. Finally, Intech Investment Management LLC acquired a new stake in Atmus Filtration Technologies during the 3rd quarter worth approximately $831,000. 32.73% of the stock is currently owned by institutional investors and hedge funds.

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.