ABM Industries Incorporated Announces Quarterly Dividend of $0.27 (NYSE:ABM)

ABM Industries Incorporated (NYSE:ABM - Get Free Report) declared a quarterly dividend on Friday, June 6th, RTT News reports. Investors of record on Thursday, July 3rd will be given a dividend of 0.265 per share by the business services provider on Monday, August 4th. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.07%.

ABM Industries has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $4.10 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 25.9%.

ABM Industries Stock Performance

NYSE:ABM opened at $51.12 on Friday. ABM Industries has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. The firm has a market capitalization of $3.18 billion, a PE ratio of 40.25, a PEG ratio of 2.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The stock's fifty day moving average is $49.02 and its 200 day moving average is $51.34.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.07 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. During the same period last year, the firm earned $0.87 earnings per share. On average, sell-side analysts anticipate that ABM Industries will post 3.71 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ABM. Wall Street Zen downgraded ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st. UBS Group cut their target price on ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a research note on Thursday, March 13th.

Insider Buying and Selling

In other ABM Industries news, EVP Sean Michael Mahoney sold 574 shares of the company's stock in a transaction dated Monday, May 5th. The stock was sold at an average price of $50.06, for a total transaction of $28,734.44. Following the completion of the sale, the executive vice president now directly owns 49,225 shares in the company, valued at $2,464,203.50. This represents a 1.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Scott B. Salmirs sold 37,065 shares of the business's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.37, for a total value of $1,941,094.05. Following the transaction, the chief executive officer now directly owns 369,656 shares in the company, valued at $19,358,884.72. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 52,374 shares of company stock valued at $2,733,303 over the last ninety days. Corporate insiders own 0.90% of the company's stock.

Hedge Funds Weigh In On ABM Industries

A number of hedge funds have recently added to or reduced their stakes in the business. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in ABM Industries by 5.1% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 180,038 shares of the business services provider's stock worth $8,527,000 after purchasing an additional 8,704 shares during the last quarter. Jane Street Group LLC boosted its position in shares of ABM Industries by 592.0% during the 1st quarter. Jane Street Group LLC now owns 140,201 shares of the business services provider's stock valued at $6,640,000 after purchasing an additional 119,942 shares in the last quarter. Royal Bank of Canada lifted its position in shares of ABM Industries by 0.4% during the 1st quarter. Royal Bank of Canada now owns 86,571 shares of the business services provider's stock valued at $4,100,000 after acquiring an additional 312 shares during the last quarter. Millennium Management LLC increased its stake in ABM Industries by 2.2% in the 1st quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock worth $3,767,000 after purchasing an additional 1,734 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of ABM Industries by 2.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 36,983 shares of the business services provider's stock valued at $1,752,000 after acquiring an additional 984 shares during the period. Institutional investors and hedge funds own 91.62% 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.

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