Atmus Filtration Technologies (NYSE:ATMU) Sets New 52-Week High After Dividend Announcement

Key Points

• Atmus Filtration Technologies shares reached a new **52-week high** of $45.55 after announcing a **dividend increase** from $0.05 to $0.055, resulting in a **0.5% dividend yield**.
• Wall Street analysts have varying opinions on the stock, with **price targets ranging from $39.00 to $45.00**, and a consensus rating of **"Moderate Buy."**
• The company reported **$0.75 EPS** for the last quarter, exceeding analysts' expectations, and had revenue growth of **4.8% year-over-year**.

Atmus Filtration Technologies Inc. (NYSE:ATMU - Get Free Report) shares reached a new 52-week high on Wednesday following a dividend announcement from the company. The stock traded as high as $45.54 and last traded at $45.55, with a volume of 468832 shares trading hands. The stock had previously closed at $43.96.The newly announced dividend which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be paid a $0.055 dividend. This represents a $0.22 annualized dividend and a dividend yield of 0.5%. This is an increase from Atmus Filtration Technologies's previous quarterly dividend of $0.05. Atmus Filtration Technologies's payout ratio is currently 8.85%.

Wall Street Analysts Forecast Growth

ATMU has been the topic of several research reports. Robert W. Baird upped their price target on shares of Atmus Filtration Technologies from $41.00 to $45.00 and gave the stock an "outperform" rating in a research report on Monday. Wells Fargo & Company boosted their price target on shares of Atmus Filtration Technologies from $37.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Tuesday, July 1st. The Goldman Sachs Group downgraded shares of Atmus Filtration Technologies from a "buy" rating to a "neutral" rating and set a $39.00 price target for the company. in a research note on Tuesday, May 27th. Finally, JPMorgan Chase & Co. upped their price target 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. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Atmus Filtration Technologies presently has a consensus rating of "Moderate Buy" and a consensus price target of $42.80.

Atmus Filtration Technologies Stock Up 3.8%

The company has a current ratio of 2.15, a quick ratio of 1.46 and a debt-to-equity ratio of 1.75. The stock has a market cap of $3.75 billion, a P/E ratio of 20.23, a PEG ratio of 5.17 and a beta of 1.64. The firm has a 50-day simple moving average of $37.50 and a two-hundred day simple moving average of $37.29.

Atmus Filtration Technologies (NYSE:ATMU - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported $0.75 EPS for the quarter, topping analysts' consensus estimates of $0.66 by $0.09. Atmus Filtration Technologies had a return on equity of 83.23% and a net margin of 11.22%. The company had revenue of $453.50 million for the quarter, compared to analysts' expectations of $433.51 million. During the same quarter last year, the business earned $0.71 earnings per share. Atmus Filtration Technologies's revenue was up 4.8% on a year-over-year basis. Equities research analysts expect that Atmus Filtration Technologies Inc. will post 2.52 earnings per share for the current fiscal year.

Institutional Trading of Atmus Filtration Technologies

A number of hedge funds have recently made changes to their positions in the company. Jones Financial Companies Lllp raised its position in shares of Atmus Filtration Technologies by 143.1% during the first quarter. Jones Financial Companies Lllp now owns 700 shares of the company's stock worth $26,000 after purchasing an additional 412 shares during the period. SouthState Corp bought a new stake in Atmus Filtration Technologies during the first quarter worth $27,000. Bessemer Group Inc. grew its holdings in Atmus Filtration Technologies by 31.4% during the second quarter. Bessemer Group Inc. now owns 1,138 shares of the company's stock worth $42,000 after buying an additional 272 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in Atmus Filtration Technologies by 295.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 1,368 shares of the company's stock worth $54,000 after buying an additional 1,022 shares in the last quarter. Finally, Quarry LP grew its stake in Atmus Filtration Technologies by 70.9% in the 4th quarter. Quarry LP now owns 1,993 shares of the company's stock valued at $78,000 after purchasing an additional 827 shares during the period. 32.73% of the stock is owned by institutional investors and hedge funds.

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.

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