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

ABM Industries Incorporated (NYSE:ABM - Get Free Report) announced a quarterly dividend on Friday, June 6th, RTT News reports. Shareholders 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 annualized dividend and a yield of 2.19%. The ex-dividend date of this dividend is Thursday, July 3rd.

ABM Industries has a payout ratio of 25.8% indicating that its dividend is sufficiently covered by earnings. 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 Up 3.7%

ABM stock traded up $1.73 during trading hours on Monday, hitting $48.34. The company's stock had a trading volume of 1,165,620 shares, compared to its average volume of 502,714. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.01 billion, a PE ratio of 38.06, a price-to-earnings-growth ratio of 2.75 and a beta of 0.83. ABM Industries has a 12 month low of $40.85 and a 12 month high of $59.78. The stock has a 50 day moving average price of $48.97 and a two-hundred day moving average price of $51.15.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). The business had revenue of $2.11 billion during the quarter, compared to the consensus estimate of $2.07 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business's revenue was up 4.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.87 earnings per share. On average, equities research analysts expect that ABM Industries will post 3.71 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ABM has been the subject of several recent analyst reports. Wall Street Zen downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, May 31st. UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $50.00 to $54.00 in a report on Monday. Finally, Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a report on Monday.

Insider Buying and Selling

In related news, EVP Sean Michael Mahoney sold 1,800 shares of the company's stock in a transaction on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president now directly owns 47,425 shares in the company, valued at $2,372,672.75. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Scott B. Salmirs sold 12,135 shares of the company's stock in a transaction on Tuesday, May 13th. The shares were sold at an average price of $52.06, for a total transaction of $631,748.10. Following the transaction, the chief executive officer now owns 406,721 shares of the company's stock, valued at approximately $21,173,895.26. The trade was a 2.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 52,374 shares of company stock worth $2,733,303 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ABM Industries

Several large investors have recently bought and sold shares of the stock. Focus Partners Wealth acquired a new position in ABM Industries during the 1st quarter valued at $477,000. Jane Street Group LLC raised its stake in 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 during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in ABM Industries by 5.1% during 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 valued at $8,527,000 after purchasing an additional 8,704 shares during the last quarter. Millennium Management LLC raised its stake in ABM Industries by 2.2% during the 1st quarter. Millennium Management LLC now owns 79,533 shares of the business services provider's stock valued at $3,767,000 after purchasing an additional 1,734 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of ABM Industries by 2.7% in the 1st 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 buying an additional 984 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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.