Insider Selling: ABM Industries Incorporated (NYSE:ABM) CAO Sells 4,281 Shares of Stock

ABM Industries Incorporated (NYSE:ABM) CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ABM Industries Trading Up 0.9 %

ABM Industries stock traded up $0.49 during trading hours on Thursday, reaching $53.44. The stock had a trading volume of 210,753 shares, compared to its average volume of 363,585. The stock has a market cap of $3.32 billion, a PE ratio of 42.08, a PEG ratio of 2.63 and a beta of 1.16. The company has a fifty day simple moving average of $54.33 and a 200-day simple moving average of $53.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business’s revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $1.01 EPS. Analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.06 annualized dividend and a dividend yield of 1.98%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is currently 83.47%.

Institutional Trading of ABM Industries

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Burney Co. grew its stake in ABM Industries by 15.5% in the fourth quarter. Burney Co. now owns 16,449 shares of the business services provider’s stock worth $842,000 after purchasing an additional 2,210 shares during the period. Miracle Mile Advisors LLC bought a new position in shares of ABM Industries during the fourth quarter valued at approximately $392,000. First Hawaiian Bank boosted its position in shares of ABM Industries by 32.4% in the 4th quarter. First Hawaiian Bank now owns 10,682 shares of the business services provider’s stock worth $547,000 after purchasing an additional 2,614 shares in the last quarter. Principal Financial Group Inc. grew its stake in shares of ABM Industries by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock worth $17,286,000 after buying an additional 15,438 shares during the last quarter. Finally, Franklin Resources Inc. bought a new position in ABM Industries during the 3rd quarter valued at approximately $446,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group boosted their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

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.