Scott B. Salmirs Sells 11,736 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) CEO Scott B. Salmirs sold 11,736 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the transaction, the chief executive officer now owns 366,655 shares of the company’s stock, valued at approximately $20,195,357.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

ABM Industries Stock Up 0.9 %

Shares of NYSE:ABM opened at $55.08 on Monday. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 14.42 and a beta of 1.16. ABM Industries Incorporated has a 12 month low of $37.61 and a 12 month high of $56.02. The company has a 50-day moving average price of $50.25 and a 200 day moving average price of $45.47.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.46 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.63%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s payout ratio is currently 23.56%.

Analysts Set New Price Targets

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

Institutional Trading of ABM Industries

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its stake in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares during the last quarter. SummerHaven Investment Management LLC lifted its stake in ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock worth $891,000 after purchasing an additional 324 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of ABM Industries by 8.9% during the fourth quarter. Daiwa Securities Group Inc. now owns 5,381 shares of the business services provider’s stock worth $241,000 after acquiring an additional 439 shares during the period. Adirondack Trust Co. increased its position in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after acquiring an additional 500 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in shares of ABM Industries by 323.4% during the fourth quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock worth $30,000 after acquiring an additional 511 shares during the period. Institutional investors own 91.62% of the company’s stock.

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.