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

Atmus Filtration Technologies Inc. (NYSE:ATMU) announced a quarterly dividend on Friday, October 18th, RTT News reports. Investors of record on Thursday, October 31st will be given a dividend of 0.05 per share on Wednesday, November 13th. This represents a $0.20 dividend on an annualized basis and a yield of 0.51%. The ex-dividend date of this dividend is Thursday, October 31st.

Atmus Filtration Technologies has a payout ratio of 8.1% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Atmus Filtration Technologies to earn $2.47 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 8.1%.

Atmus Filtration Technologies Trading Down 2.3 %

NYSE:ATMU opened at $38.98 on Wednesday. The company has a fifty day moving average of $36.75 and a 200 day moving average of $32.49. Atmus Filtration Technologies has a 52 week low of $18.21 and a 52 week high of $40.29. The company has a quick ratio of 1.30, a current ratio of 2.07 and a debt-to-equity ratio of 3.28. The firm has a market capitalization of $3.25 billion, a P/E ratio of 19.89, a P/E/G ratio of 4.40 and a beta of 1.75.

Atmus Filtration Technologies (NYSE:ATMU) last released its quarterly earnings data on Friday, August 2nd. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.13. The business had revenue of $432.60 million during the quarter, compared to analysts’ expectations of $418.33 million. Atmus Filtration Technologies had a return on equity of 187.12% and a net margin of 10.52%. The business’s revenue was up 4.6% on a year-over-year basis. During the same quarter last year, the business posted $0.63 EPS. On average, research analysts predict that Atmus Filtration Technologies will post 2.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Stephen E. Macadam acquired 8,250 shares of the business’s stock in a transaction on Wednesday, August 7th. The stock was acquired at an average cost of $31.56 per share, with a total value of $260,370.00. Following the acquisition, the director now directly owns 32,083 shares in the company, valued at $1,012,539.48. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Stephen E. Macadam acquired 8,250 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were bought at an average price of $31.56 per share, with a total value of $260,370.00. Following the completion of the transaction, the director now directly owns 32,083 shares in the company, valued at $1,012,539.48. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Gretchen R. Haggerty acquired 5,849 shares of the stock in a transaction dated Friday, August 23rd. The shares were bought at an average price of $34.20 per share, with a total value of $200,035.80. Following the completion of the purchase, the director now directly owns 19,882 shares of the company’s stock, valued at approximately $679,964.40. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 0.43% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ATMU. JPMorgan Chase & Co. lifted their target price on shares of Atmus Filtration Technologies from $39.00 to $47.00 and gave the company an “overweight” rating in a report on Friday, October 11th. Northland Securities upped their price target on shares of Atmus Filtration Technologies from $38.00 to $49.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 15th. Wells Fargo & Company raised their price objective on shares of Atmus Filtration Technologies from $36.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird raised their price objective on shares of Atmus Filtration Technologies from $37.00 to $42.00 and gave the company an “outperform” rating in a research note on Wednesday, October 16th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, Atmus Filtration Technologies currently has an average rating of “Buy” and an average target price of $42.80.

About Atmus Filtration Technologies

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.