Dean A. Chin Sells 5,465 Shares of ABM Industries Incorporated (NYSE:ABM) Stock

ABM Industries Incorporated (NYSE:ABM) CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at $896,543.08. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

ABM Industries Trading Down 0.1 %

Shares of NYSE:ABM opened at $43.75 on Wednesday. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05. The company has a market capitalization of $2.77 billion, a P/E ratio of 11.19 and a beta of 1.15. The company has a 50-day simple moving average of $41.62 and a 200 day simple moving average of $41.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48.

ABM Industries (NYSE:ABM) last issued its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The business had revenue of $2.07 billion during the quarter, compared to the consensus estimate of $2.01 billion. During the same period last year, the business posted $0.79 EPS. ABM Industries’s revenue was up 3.9% on a year-over-year basis. Sell-side analysts forecast that ABM Industries Incorporated will post 3.38 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a yield of 2.06%. ABM Industries’s dividend payout ratio (DPR) is currently 23.02%.

Wall Street Analyst Weigh In

ABM has been the topic of several analyst reports. StockNews.com cut shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Truist Financial boosted their price target on shares of ABM Industries from $43.00 to $53.00 and gave the stock a “hold” rating in a research report on Thursday, December 14th. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $45.20.

Institutional Investors Weigh In On ABM Industries

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC acquired a new stake in ABM Industries during the fourth quarter worth approximately $25,000. SRS Capital Advisors Inc. lifted its position in 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 last quarter. Amundi acquired a new stake in ABM Industries during the fourth quarter worth approximately $36,000. Exchange Traded Concepts LLC acquired a new stake in ABM Industries during the fourth quarter worth approximately $48,000. Finally, Point72 Asset Management L.P. acquired a new stake in ABM Industries during the second quarter worth approximately $46,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.