ABM Industries (NYSE:ABM) Stock Price Down 6.9% – Time to Sell?

ABM Industries Incorporated (NYSE:ABM)’s stock price dropped 6.9% on Wednesday . The company traded as low as $46.53 and last traded at $46.40. Approximately 156,604 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 468,417 shares. The stock had previously closed at $49.83.

Analyst Ratings Changes

Separately, UBS Group dropped their target price on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday.

ABM Industries Stock Up 3.5 %

The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market cap of $2.93 billion, a P/E ratio of 37.10, a P/E/G ratio of 2.75 and a beta of 1.13. The business’s fifty day moving average price is $52.47 and its two-hundred day moving average price is $53.40.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the previous year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. As a group, equities research analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.25%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is presently 83.46%.

Insider Activity at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently bought and sold shares of ABM. Savant Capital LLC lifted its holdings in ABM Industries by 1.7% during the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock worth $599,000 after buying an additional 191 shares in the last quarter. Adirondack Trust Co. raised its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after acquiring an additional 200 shares during the last quarter. Naples Global Advisors LLC lifted its stake in shares of ABM Industries by 2.3% during the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock valued at $565,000 after acquiring an additional 253 shares during the period. CIBC Asset Management Inc boosted its holdings in ABM Industries by 4.8% in the fourth quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock valued at $321,000 after acquiring an additional 289 shares during the last quarter. Finally, Summit Investment Advisors Inc. increased its position in ABM Industries by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,615 shares of the business services provider’s stock worth $339,000 after purchasing an additional 329 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

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.