ABM Industries Incorporated (NYSE:ABM) EVP Andrea R. Newborn Sells 12,615 Shares

ABM Industries Incorporated (NYSE:ABM) EVP Andrea R. Newborn sold 12,615 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

ABM Industries Price Performance

Shares of NYSE ABM opened at $44.84 on Friday. The stock has a fifty day simple moving average of $43.30 and a two-hundred day simple moving average of $42.49. ABM Industries Incorporated has a 1-year low of $37.61 and a 1-year high of $53.05. The firm has a market cap of $2.84 billion, a price-to-earnings ratio of 11.47 and a beta of 1.14. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the prior year, the company earned $0.79 earnings per share. ABM Industries’s revenue was up 3.9% compared to the same quarter last year. Analysts anticipate that ABM Industries Incorporated will post 3.37 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is 23.02%.

Institutional Investors Weigh In On ABM Industries

Institutional investors have recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of ABM Industries by 15.0% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,216 shares of the business services provider’s stock worth $637,000 after acquiring an additional 1,851 shares in the last quarter. Charles Schwab Investment Management Inc. raised its position in shares of ABM Industries by 2.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock worth $24,474,000 after buying an additional 15,976 shares in the last quarter. Van ECK Associates Corp raised its position in shares of ABM Industries by 26.2% in the third quarter. Van ECK Associates Corp now owns 67,585 shares of the business services provider’s stock worth $2,704,000 after buying an additional 14,029 shares in the last quarter. Strs Ohio raised its position in shares of ABM Industries by 25.1% in the third quarter. Strs Ohio now owns 26,400 shares of the business services provider’s stock worth $1,056,000 after buying an additional 5,300 shares in the last quarter. Finally, Cornerstone Wealth Management LLC raised its position in shares of ABM Industries by 8.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 9,207 shares of the business services provider’s stock worth $413,000 after buying an additional 688 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $45.20.

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.