ABM Industries, Inc. (ABM) SVP Dean A. Chin Sells 2,018 Shares

ABM Industries, Inc. (NYSE:ABM) SVP Dean A. Chin sold 2,018 shares of the company’s stock in a transaction dated Monday, October 15th. The shares were sold at an average price of $30.39, for a total transaction of $61,327.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Shares of ABM traded down $0.63 during mid-day trading on Friday, hitting $31.91. 377,940 shares of the company’s stock were exchanged, compared to its average volume of 541,485. ABM Industries, Inc. has a 52 week low of $28.17 and a 52 week high of $44.70. The stock has a market capitalization of $2.15 billion, a PE ratio of 18.23 and a beta of 0.71. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 0.69.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, September 6th. The business services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. ABM Industries had a net margin of 1.34% and a return on equity of 7.75%. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.65 billion. During the same period last year, the firm earned $0.51 earnings per share. The business’s revenue for the quarter was up 23.2% on a year-over-year basis. Equities research analysts predict that ABM Industries, Inc. will post 1.88 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, November 5th. Stockholders of record on Thursday, October 4th were issued a dividend of $0.175 per share. The ex-dividend date of this dividend was Wednesday, October 3rd. This represents a $0.70 annualized dividend and a dividend yield of 2.19%. ABM Industries’s dividend payout ratio is presently 40.00%.

ABM has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of ABM Industries from a “sell” rating to a “hold” rating in a report on Tuesday, September 11th. Robert W. Baird cut shares of ABM Industries from an “outperform” rating to a “neutral” rating and increased their price target for the company from $36.00 to $40.00 in a report on Thursday, August 23rd. They noted that the move was a valuation call. TheStreet raised shares of ABM Industries from a “c+” rating to a “b-” rating in a report on Friday, September 14th. Finally, ValuEngine raised shares of ABM Industries from a “strong sell” rating to a “sell” rating in a report on Saturday, July 28th.

Institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC increased its holdings in shares of ABM Industries by 52.3% during the second quarter. FMR LLC now owns 3,158,348 shares of the business services provider’s stock worth $92,160,000 after purchasing an additional 1,084,507 shares during the period. Stevens Capital Management LP acquired a new stake in shares of ABM Industries during the 2nd quarter worth approximately $550,000. MetLife Investment Advisors LLC boosted its position in shares of ABM Industries by 17.7% during the 2nd quarter. MetLife Investment Advisors LLC now owns 30,335 shares of the business services provider’s stock worth $885,000 after acquiring an additional 4,564 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of ABM Industries by 44.6% during the 2nd quarter. CIBC Private Wealth Group LLC now owns 26,262 shares of the business services provider’s stock worth $767,000 after acquiring an additional 8,100 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of ABM Industries by 17.2% during the 2nd quarter. Van ECK Associates Corp now owns 28,643 shares of the business services provider’s stock worth $836,000 after acquiring an additional 4,204 shares in the last quarter.

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About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

Further Reading: Technical Analysis

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