Insider Selling: ABM Industries Incorporated (NYSE:ABM) CAO Sells 4,281 Shares of Stock

ABM Industries Incorporated (NYSE:ABM) CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

ABM Industries Stock Up 0.9 %

ABM stock opened at $53.44 on Friday. The stock has a market capitalization of $3.32 billion, a P/E ratio of 42.08, a price-to-earnings-growth ratio of 2.63 and a beta of 1.16. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $54.26 and a 200-day moving average price of $53.48. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78.

ABM Industries (NYSE:ABM) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 earnings per share. As a group, equities research analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is presently 83.47%.

Institutional Trading of ABM Industries

A number of hedge funds have recently made changes to their positions in the company. Pacer Advisors Inc. acquired a new position in shares of ABM Industries in the second quarter valued at approximately $125,118,000. Pzena Investment Management LLC increased its position in ABM Industries by 67.0% in the 3rd quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock valued at $36,640,000 after acquiring an additional 278,575 shares during the period. Barclays PLC raised its stake in shares of ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after acquiring an additional 80,238 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of ABM Industries by 279.4% during the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock valued at $5,702,000 after acquiring an additional 79,587 shares during the last quarter. Finally, Foundry Partners LLC lifted its holdings in shares of ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after purchasing an additional 75,930 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group lifted their price target on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

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.