Atmus Filtration Technologies Inc. Plans Quarterly Dividend of $0.05 (NYSE:ATMU)

Atmus Filtration Technologies Inc. (NYSE:ATMU) declared a quarterly dividend on Wednesday, May 21st, RTT News reports. Stockholders of record on Tuesday, June 3rd will be given a dividend of 0.05 per share on Wednesday, June 18th. This represents a $0.20 annualized dividend and a dividend yield of 0.53%.

Atmus Filtration Technologies has a payout ratio of 7.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Atmus Filtration Technologies to earn $2.84 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 7.0%.

Atmus Filtration Technologies Trading Down 1.4%

Shares of NYSE ATMU opened at $37.74 on Thursday. Atmus Filtration Technologies has a 12-month low of $27.62 and a 12-month high of $45.43. The company has a market cap of $3.12 billion, a price-to-earnings ratio of 17.07, a price-to-earnings-growth ratio of 3.99 and a beta of 1.81. The company has a current ratio of 2.11, a quick ratio of 1.35 and a debt-to-equity ratio of 2.61. The stock’s 50 day simple moving average is $35.76 and its 200 day simple moving average is $38.94.

Atmus Filtration Technologies (NYSE:ATMU) last posted its earnings results on Friday, May 2nd. The company reported $0.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.04. The company had revenue of $110.50 million for the quarter, compared to analysts’ expectations of $424.03 million. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The firm’s quarterly revenue was down 2.3% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Equities research analysts expect that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Institutional Investors Weigh In On Atmus Filtration Technologies

Institutional investors and hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Atmus Filtration Technologies by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,874 shares of the company’s stock worth $1,832,000 after acquiring an additional 2,176 shares in the last quarter. Millennium Management LLC increased its holdings in shares of Atmus Filtration Technologies by 17.5% in the 1st quarter. Millennium Management LLC now owns 219,639 shares of the company’s stock valued at $8,067,000 after purchasing an additional 32,727 shares during the period. Jones Financial Companies Lllp increased its holdings in shares of Atmus Filtration Technologies by 143.1% in the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company’s stock valued at $26,000 after purchasing an additional 412 shares during the period. Caxton Associates LLP purchased a new stake in shares of Atmus Filtration Technologies in the first quarter worth approximately $283,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Atmus Filtration Technologies by 2.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 159,638 shares of the company’s stock worth $5,864,000 after purchasing an additional 3,419 shares during the period. Institutional investors and hedge funds own 32.73% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ATMU shares. Wells Fargo & Company raised their target price on Atmus Filtration Technologies from $35.00 to $37.00 and gave the company an “equal weight” rating in a research report on Monday, May 5th. Robert W. Baird lowered their price target on Atmus Filtration Technologies from $46.00 to $45.00 and set an “outperform” rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an “overweight” rating in a research note on Monday, May 5th.

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.