ABM Industries Incorporated (NYSE:ABM) CEO Scott B. Salmirs Sells 25,000 Shares

ABM Industries Incorporated (NYSE:ABM) CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the completion of the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

ABM Industries Price Performance

NYSE:ABM traded up $0.77 during mid-day trading on Friday, hitting $51.32. The company’s stock had a trading volume of 174,708 shares, compared to its average volume of 603,655. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of 13.40 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a fifty day moving average of $48.49 and a 200-day moving average of $44.73.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts forecast that ABM Industries Incorporated will post 3.47 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date is Friday, July 5th. This represents a $0.90 annualized dividend and a yield of 1.75%. ABM Industries’s dividend payout ratio is 23.56%.

Institutional Trading of ABM Industries

Several large investors have recently added to or reduced their stakes in the company. Simplicity Wealth LLC grew its stake in ABM Industries by 1.5% during the second quarter. Simplicity Wealth LLC now owns 79,164 shares of the business services provider’s stock worth $4,003,000 after buying an additional 1,167 shares during the last quarter. CWM LLC grew its stake in shares of ABM Industries by 214.6% during the second quarter. CWM LLC now owns 3,017 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 2,058 shares during the last quarter. Adirondack Trust Co. grew its stake in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. First Hawaiian Bank bought a new stake in shares of ABM Industries during the second quarter valued at approximately $259,000. Finally, GAMMA Investing LLC grew its stake in shares of ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on ABM shares. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a report on Wednesday, June 12th. UBS Group upped their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research report on Friday, June 7th. Finally, Robert W. Baird upped their price objective on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $48.80.

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.