ABM Industries (NYSE:ABM) Trading Down 6.9% – Here’s What Happened

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

Wall Street Analyst Weigh In

Separately, UBS Group raised their price objective on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

ABM Industries Stock Down 4.9 %

The company has a market cap of $2.95 billion, a price-to-earnings ratio of 37.03, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The business has a 50-day simple moving average of $52.66 and a 200-day simple moving average of $53.50.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, March 12th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.08. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.24%. ABM Industries’s dividend payout ratio (DPR) is 83.46%.

Insider Transactions at ABM Industries

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

Hedge Funds Weigh In On ABM Industries

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

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.