Dean A. Chin Sells 4,281 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) 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 value of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ABM Industries Trading Down 0.4 %

Shares of ABM Industries stock opened at $53.14 on Friday. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $3.31 billion, a P/E ratio of 41.84, a price-to-earnings-growth ratio of 2.63 and a beta of 1.16. The firm has a 50-day simple moving average of $54.17 and a two-hundred day simple moving average of $53.50.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping 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 company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter in the prior year, the firm posted $1.01 EPS. ABM Industries’s quarterly revenue was up 4.0% compared to the same quarter last year. As a group, equities analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is presently 83.47%.

Wall Street Analyst Weigh In

Separately, UBS Group upped their price objective on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research report on Thursday, December 19th.

Hedge Funds Weigh In On ABM Industries

A number of large investors have recently added to or reduced their stakes in ABM. Adirondack Trust Co. increased its stake in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. Burney Co. boosted its holdings in ABM Industries by 15.5% in the 4th quarter. Burney Co. now owns 16,449 shares of the business services provider’s stock worth $842,000 after buying an additional 2,210 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in ABM Industries during the 4th quarter worth approximately $392,000. First Hawaiian Bank raised its holdings in shares of ABM Industries by 32.4% during the fourth quarter. First Hawaiian Bank now owns 10,682 shares of the business services provider’s stock valued at $547,000 after acquiring an additional 2,614 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position in shares of ABM Industries by 4.9% in the third quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after acquiring an additional 15,438 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.