Atmus Filtration Technologies (NYSE:ATMU) Reaches New 52-Week High Following Dividend Announcement

Atmus Filtration Technologies Inc. (NYSE:ATMU)’s share price reached a new 52-week high during trading on Tuesday after the company announced a dividend. The company traded as high as $62.86 and last traded at $61.3650, with a volume of 23757 shares trading hands. The stock had previously closed at $62.10.

The newly announced dividend which will be paid on Wednesday, March 4th. Shareholders of record on Friday, February 20th will be issued a $0.055 dividend. This represents a $0.22 dividend on an annualized basis and a yield of 0.4%. The ex-dividend date of this dividend is Friday, February 20th. Atmus Filtration Technologies’s dividend payout ratio is presently 9.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ATMU. Weiss Ratings reissued a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research note on Wednesday, January 21st. Zacks Research lowered shares of Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a report on Tuesday, January 27th. Wells Fargo & Company boosted their target price on shares of Atmus Filtration Technologies from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. JPMorgan Chase & Co. upped their price target on shares of Atmus Filtration Technologies from $60.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, January 14th. Finally, Wall Street Zen lowered shares of Atmus Filtration Technologies from a “strong-buy” rating to a “buy” rating in a report on Saturday, January 17th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $50.50.

Atmus Filtration Technologies Price Performance

The company has a current ratio of 2.14, a quick ratio of 1.41 and a debt-to-equity ratio of 1.63. The business’s 50-day simple moving average is $55.03 and its two-hundred day simple moving average is $48.44. The firm has a market cap of $5.01 billion, a price-to-earnings ratio of 25.57, a P/E/G ratio of 2.70 and a beta of 1.56.

Atmus Filtration Technologies (NYSE:ATMU) last posted its quarterly earnings data on Friday, November 7th. The company reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.08. Atmus Filtration Technologies had a net margin of 11.57% and a return on equity of 76.84%. The company had revenue of $447.70 million for the quarter, compared to analyst estimates of $415.02 million. During the same period in the prior year, the firm posted $0.61 EPS. The company’s quarterly revenue was up 10.9% on a year-over-year basis. As a group, research analysts expect that Atmus Filtration Technologies Inc. will post 2.52 EPS for the current fiscal year.

Institutional Investors Weigh In On Atmus Filtration Technologies

Institutional investors and hedge funds have recently made changes to their positions in the business. California State Teachers Retirement System increased its holdings in Atmus Filtration Technologies by 0.3% in the second quarter. California State Teachers Retirement System now owns 83,277 shares of the company’s stock worth $3,033,000 after purchasing an additional 236 shares in the last quarter. Bessemer Group Inc. grew its position in shares of Atmus Filtration Technologies by 31.4% during the 2nd quarter. Bessemer Group Inc. now owns 1,138 shares of the company’s stock worth $42,000 after buying an additional 272 shares during the period. Verdence Capital Advisors LLC increased its stake in shares of Atmus Filtration Technologies by 2.1% in the 3rd quarter. Verdence Capital Advisors LLC now owns 13,678 shares of the company’s stock valued at $626,000 after acquiring an additional 285 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Atmus Filtration Technologies by 14.7% during the 4th quarter. GAMMA Investing LLC now owns 2,223 shares of the company’s stock valued at $115,000 after acquiring an additional 285 shares during the period. Finally, Wealth Enhancement Advisory Services LLC boosted its stake in Atmus Filtration Technologies by 5.3% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 6,021 shares of the company’s stock worth $266,000 after acquiring an additional 301 shares in the last quarter. Institutional investors own 32.73% of the company’s stock.

About Atmus Filtration Technologies

Atmus Filtration Technologies is a global developer and manufacturer of high-performance filter media and filtration solutions. The company designs and produces advanced materials that capture airborne particles across a range of applications, from heating, ventilation and air-conditioning (HVAC) systems to industrial and cleanroom environments. By focusing on proprietary meltblown and nanofiber technologies, Atmus delivers media that balances efficiency, airflow and durability for both original equipment manufacturers (OEMs) and aftermarket customers.

The company’s product portfolio encompasses pleated and panel filter media, depth filtration products and specialty laminates used in industries such as commercial buildings, healthcare, transportation and power generation.