ABM Industries Incorporated (NYSE:ABM) CAO Sells $103,529.40 in Stock

ABM Industries Incorporated (NYSE:ABM) CAO Dean A. Chin sold 2,042 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the sale, the chief accounting officer now owns 18,493 shares in the company, valued at $937,595.10. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

ABM Industries Price Performance

Shares of ABM opened at $51.28 on Monday. The firm has a market cap of $3.22 billion, a price-to-earnings ratio of 13.42 and a beta of 1.16. The stock has a 50 day moving average of $48.62 and a 200-day moving average of $44.75. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. ABM Industries Incorporated has a 52 week low of $37.61 and a 52 week high of $53.05.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, June 6th. The business services provider reported $0.87 EPS for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The business’s revenue was up 1.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 EPS. As a group, analysts forecast that ABM Industries Incorporated will post 3.47 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a $0.225 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.90 annualized dividend and a dividend yield of 1.76%. ABM Industries’s payout ratio is 23.56%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ABM shares. Robert W. Baird raised their target price on ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, June 10th. StockNews.com upgraded ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, UBS Group raised their price objective on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $48.80.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. BNP Paribas Financial Markets grew its position in shares of ABM Industries by 136.5% in the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock worth $3,529,000 after acquiring an additional 45,442 shares in the last quarter. Quadrature Capital Ltd lifted its holdings in shares of ABM Industries by 203.0% in the 4th quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 25,453 shares during the last quarter. Seven Eight Capital LP bought a new stake in shares of ABM Industries in the 4th quarter worth approximately $795,000. Olstein Capital Management L.P. lifted its holdings in shares of ABM Industries by 18.3% in the 1st quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider’s stock worth $12,938,000 after purchasing an additional 44,953 shares during the last quarter. Finally, Van ECK Associates Corp lifted its holdings in shares of ABM Industries by 36.9% in the 1st quarter. Van ECK Associates Corp now owns 78,681 shares of the business services provider’s stock worth $3,511,000 after purchasing an additional 21,220 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.