ABM Industries Incorporated (NYSE:ABM) Declares Quarterly Dividend of $0.27

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Wednesday, March 12th, RTT News reports. Stockholders of record on Thursday, April 3rd will be given a dividend of 0.265 per share by the business services provider on Monday, May 5th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.33%.

ABM Industries has increased its dividend by an average of 7.1% annually over the last three years and has raised its dividend every year for the last 58 years. ABM Industries has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Analysts expect ABM Industries to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 25.9%.

ABM Industries Trading Down 8.6 %

NYSE ABM opened at $45.52 on Thursday. The stock has a 50-day simple moving average of $52.66 and a 200 day simple moving average of $53.50. The company has a market capitalization of $2.83 billion, a PE ratio of 35.84, a P/E/G ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries has a 12 month low of $41.51 and a 12 month high of $59.78.

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

Insider Buying and Selling at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the sale, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. The trade was a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analysts Set New Price Targets

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

ABM Industries Company Profile

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.