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

Atmus Filtration Technologies Inc. (NYSE:ATMU - Get Free Report) announced 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 0.52%.

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 Stock Performance

Shares of Atmus Filtration Technologies stock traded down $0.11 on Wednesday, hitting $38.15. The stock had a trading volume of 17,366 shares, compared to its average volume of 892,265. Atmus Filtration Technologies has a 52-week low of $27.62 and a 52-week high of $45.43. 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 has a market cap of $3.15 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 3.99 and a beta of 1.81. The company's 50 day moving average price is $35.74 and its 200 day moving average price is $38.95.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) 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. Atmus Filtration Technologies had a return on equity of 120.81% and a net margin of 11.12%. The firm had revenue of $110.50 million for the quarter, compared to analyst estimates of $424.03 million. During the same quarter in the prior year, the company earned $0.60 EPS. Atmus Filtration Technologies's revenue was down 2.3% on a year-over-year basis. On average, research analysts anticipate that Atmus Filtration Technologies will post 2.52 EPS for the current year.

Institutional Investors Weigh In On Atmus Filtration Technologies

A number of large investors have recently bought and sold shares of ATMU. Millennium Management LLC lifted its position in Atmus Filtration Technologies by 17.5% during the 1st quarter. Millennium Management LLC now owns 219,639 shares of the company's stock worth $8,067,000 after acquiring an additional 32,727 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in Atmus Filtration Technologies by 2.2% during the 1st 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 acquiring an additional 3,419 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Atmus Filtration Technologies by 4.6% during 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 during the last quarter. Caxton Associates LLP acquired a new position in Atmus Filtration Technologies during the 1st quarter worth $283,000. Finally, Jones Financial Companies Lllp lifted its position in Atmus Filtration Technologies by 143.1% during the 1st quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after acquiring an additional 412 shares during the last quarter. 32.73% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. JPMorgan Chase & Co. raised their target price on Atmus Filtration Technologies from $38.00 to $41.00 and gave the company an "overweight" rating in a research note on Monday, May 5th. Robert W. Baird dropped their target price 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, Wells Fargo & Company lifted their price objective on shares of Atmus Filtration Technologies from $35.00 to $37.00 and gave the stock an "equal weight" rating in a research report 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.