ABM Industries Incorporated (NYSE:ABM) CAO Sells $245,323.85 in Stock

ABM Industries Incorporated (NYSE:ABM) CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated 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 owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ABM Industries Price Performance

ABM Industries stock opened at $44.40 on Thursday. The company has a fifty day simple moving average of $41.68 and a 200-day simple moving average of $41.86. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 11.36 and a beta of 1.15. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data 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. The company had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. ABM Industries’s revenue was up 3.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.79 EPS. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.38 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be issued a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.03%. ABM Industries’s dividend payout ratio is presently 23.02%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ABM shares. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Truist Financial raised their price target on shares of ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a research note 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $45.20.

Hedge Funds Weigh In On ABM Industries

Institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its holdings in ABM Industries by 19.3% in the 1st quarter. State Street Corp now owns 7,059,579 shares of the business services provider’s stock valued at $325,023,000 after buying an additional 1,140,097 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of ABM Industries by 1.4% during the 4th quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock valued at $210,141,000 after acquiring an additional 66,334 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of ABM Industries by 16.1% in the fourth quarter. Victory Capital Management Inc. now owns 1,931,733 shares of the business services provider’s stock valued at $85,808,000 after purchasing an additional 268,099 shares during the period. Macquarie Group Ltd. increased its position in ABM Industries by 2.1% during the first quarter. Macquarie Group Ltd. now owns 1,836,382 shares of the business services provider’s stock worth $82,527,000 after purchasing an additional 38,047 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in ABM Industries by 353.1% during the second quarter. Goldman Sachs Group Inc. now owns 1,396,596 shares of the business services provider’s stock worth $60,641,000 after purchasing an additional 1,088,389 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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.