ABM Industries Incorporated (NYSE:ABM) Plans Dividend Increase – $0.27 Per Share

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Thursday, December 5th,RTT News reports. Investors of record on Thursday, January 2nd will be paid a dividend of 0.265 per share by the business services provider on Monday, February 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Thursday, January 2nd. This is a boost from ABM Industries’s previous quarterly dividend of $0.23.

ABM Industries has increased its dividend payment by an average of 16.6% annually over the last three years and has increased its dividend every year for the last 58 years. ABM Industries has a dividend payout ratio of 28.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $3.65 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 29.0%.

ABM Industries Stock Up 0.7 %

Shares of NYSE:ABM opened at $51.38 on Tuesday. The company has a market capitalization of $3.20 billion, a PE ratio of 21.23 and a beta of 1.14. ABM Industries has a 1 year low of $39.64 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. The business has a fifty day moving average price of $54.92 and a two-hundred day moving average price of $53.45.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Analysts forecast that ABM Industries will post 3.53 earnings per share for the current year.

Analyst Ratings Changes

ABM has been the subject of a number of recent research reports. Truist Financial raised their target price on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. UBS Group boosted their price objective on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th. Finally, Robert W. Baird increased their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

Insider Activity at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 1.04% of the stock is currently owned by corporate insiders.

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.