ABM Industries Incorporated (NYSE:ABM) to Issue $0.23 Quarterly Dividend

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Friday, September 6th, NASDAQ reports. Shareholders of record on Thursday, October 3rd will be given a dividend of 0.225 per share by the business services provider on Monday, November 4th. This represents a $0.90 annualized dividend and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, October 3rd.

ABM Industries has increased its dividend payment by an average of 16.6% per year over the last three years and has raised its dividend annually for the last 58 consecutive years. ABM Industries has a dividend payout ratio of 24.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $3.69 per share next year, which means the company should continue to be able to cover its $0.90 annual dividend with an expected future payout ratio of 24.4%.

ABM Industries Stock Down 2.1 %

ABM stock opened at $51.65 on Wednesday. ABM Industries has a 1-year low of $38.48 and a 1-year high of $59.78. The stock has a market cap of $3.24 billion, a P/E ratio of 13.52 and a beta of 1.14. The stock’s fifty day simple moving average is $53.44 and its two-hundred day simple moving average is $49.37. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, beating analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.04 billion. During the same period in the previous year, the company earned $0.79 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Analysts expect that ABM Industries will post 3.53 EPS for the current year.

Insider Buying and Selling

In related news, CEO Scott B. Salmirs sold 11,736 shares of the firm’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total value of $646,418.88. Following the sale, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at $20,195,357.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Scott B. Salmirs sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the sale, the chief executive officer now owns 378,391 shares in the company, valued at approximately $18,503,319.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott B. Salmirs sold 11,736 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $55.08, for a total transaction of $646,418.88. Following the transaction, the chief executive officer now owns 366,655 shares in the company, valued at $20,195,357.40. The disclosure for this sale can be found here. Insiders sold a total of 78,778 shares of company stock worth $4,039,248 over the last ninety days. 1.04% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the company. Robert W. Baird boosted their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th. UBS Group boosted their price objective on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd.

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.