Atmus Filtration Technologies (NYSE:ATMU) Sets New 12-Month High After Dividend Announcement

Atmus Filtration Technologies Inc. (NYSE:ATMU) shares 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. The stock had previously closed at $62.10.

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on ATMU. Wall Street Zen cut shares of Atmus Filtration Technologies from a “strong-buy” rating to a “buy” rating in a research note on Saturday, January 17th. Zacks Research downgraded shares of Atmus Filtration Technologies from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 27th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Atmus Filtration Technologies in a research note on Wednesday, January 21st. JPMorgan Chase & Co. raised their price objective on shares of Atmus Filtration Technologies from $60.00 to $64.00 and gave the company an “overweight” rating in a research note on Wednesday, January 14th. Finally, Wells Fargo & Company boosted their target price on Atmus Filtration Technologies from $52.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 7th. Three research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently 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 fifty day moving average is $55.22 and its 200 day moving average is $48.61. The firm has a market capitalization of $5.06 billion, a P/E ratio of 25.85, a P/E/G ratio of 2.73 and a beta of 1.56.

Institutional Investors Weigh In On Atmus Filtration Technologies

Several large investors have recently modified their holdings of ATMU. Eminence Capital LP raised its position in shares of Atmus Filtration Technologies by 1.1% during the third quarter. Eminence Capital LP now owns 6,522,404 shares of the company’s stock worth $294,095,000 after purchasing an additional 73,411 shares during the period. Goldman Sachs Group Inc. boosted its position in shares of Atmus Filtration Technologies by 5.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,200,311 shares of the company’s stock valued at $166,128,000 after purchasing an additional 163,659 shares during the period. Geode Capital Management LLC increased its stake in Atmus Filtration Technologies by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 2,428,684 shares of the company’s stock worth $126,088,000 after purchasing an additional 54,376 shares in the last quarter. Invesco Ltd. raised its holdings in Atmus Filtration Technologies by 1.6% during the 3rd quarter. Invesco Ltd. now owns 2,223,823 shares of the company’s stock worth $100,272,000 after buying an additional 34,146 shares during the period. Finally, State Street Corp lifted its stake in Atmus Filtration Technologies by 0.7% during the second quarter. State Street Corp now owns 1,953,607 shares of the company’s stock valued at $71,150,000 after buying an additional 14,269 shares in the last quarter. 32.73% of the stock is owned by institutional investors.

Atmus Filtration Technologies Company Profile

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.