ABM Industries Incorporated (ABM) To Go Ex-Dividend on October 3rd

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Friday, September 6th, NASDAQ reports. Stockholders of record on Thursday, October 3rd will be given a dividend of 0.225 per share by the business services provider on Monday, November 4th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Thursday, October 3rd.

ABM Industries has increased its dividend payment by an average of 16.6% per year over the last three years and has increased its dividend every year for the last 58 years. ABM Industries has a payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ABM Industries to earn $3.69 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 24.4%.

ABM Industries Price Performance

Shares of ABM stock opened at $52.76 on Tuesday. The firm has a fifty day moving average of $53.44 and a two-hundred day moving average of $49.37. The firm has a market cap of $3.31 billion, a P/E ratio of 13.81 and a beta of 1.14. ABM Industries has a 1-year low of $38.48 and a 1-year high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same quarter in the prior year, the firm posted $0.79 earnings per share. ABM Industries’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts anticipate that ABM Industries will post 3.53 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ABM shares. UBS Group raised their price target on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial increased their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, Robert W. Baird raised their price target on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

Insider Transactions at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of ABM Industries stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the sale, the chief accounting officer now owns 18,493 shares of the company’s stock, valued at approximately $937,595.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CAO Dean A. Chin sold 2,042 shares of the stock in a transaction that occurred on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the transaction, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rene Jacobsen sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total value of $2,066,800.00. Following the completion of the sale, the chief operating officer now owns 72,062 shares of the company’s stock, valued at $3,723,443.54. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% 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.