ABM Industries, Inc. (NYSE:ABM) insider Scott B. Salmirs sold 10,971 shares of the stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $37.50, for a total transaction of $411,412.50. Following the transaction, the insider now owns 157,091 shares of the company’s stock, valued at approximately $5,890,912.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.
Shares of ABM Industries stock traded up $0.43 on Tuesday, reaching $37.93. The stock had a trading volume of 286,543 shares, compared to its average volume of 556,412. ABM Industries, Inc. has a 1 year low of $25.64 and a 1 year high of $38.17. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 20.07 and a beta of 0.56. The company has a current ratio of 1.54, a quick ratio of 1.54 and a debt-to-equity ratio of 0.65.
ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Wednesday, March 6th. The business services provider reported $0.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.27 by $0.04. ABM Industries had a net margin of 1.28% and a return on equity of 8.87%. The firm had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.61 billion. During the same period in the prior year, the firm posted $0.26 earnings per share. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts predict that ABM Industries, Inc. will post 1.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be issued a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s payout ratio is 38.10%.
Several institutional investors have recently made changes to their positions in ABM. Bank of New York Mellon Corp lifted its holdings in shares of ABM Industries by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 980,646 shares of the business services provider’s stock worth $31,626,000 after buying an additional 10,251 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of ABM Industries by 1.0% in the third quarter. JPMorgan Chase & Co. now owns 283,723 shares of the business services provider’s stock worth $9,150,000 after buying an additional 2,747 shares in the last quarter. Man Group plc purchased a new stake in shares of ABM Industries in the third quarter worth about $387,000. Putnam Investments LLC purchased a new stake in shares of ABM Industries in the third quarter worth about $2,412,000. Finally, MetLife Investment Advisors LLC lifted its holdings in shares of ABM Industries by 55.2% in the third quarter. MetLife Investment Advisors LLC now owns 47,066 shares of the business services provider’s stock worth $1,518,000 after buying an additional 16,731 shares in the last quarter.
A number of equities analysts have weighed in on ABM shares. Zacks Investment Research upgraded shares of ABM Industries from a “sell” rating to a “hold” rating in a research report on Monday, December 31st. CL King lowered shares of ABM Industries from a “buy” rating to a “neutral” rating in a research report on Friday, January 11th. TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b-” rating in a research report on Wednesday, January 16th. Maxim Group started coverage on shares of ABM Industries in a research report on Thursday, February 14th. They set a “buy” rating and a $45.00 target price for the company. Finally, Robert W. Baird set a $37.00 target price on shares of ABM Industries and gave the stock a “hold” rating in a research report on Thursday, March 7th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $40.46.
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About ABM Industries
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
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