Insider Selling: ABM Industries Incorporated (NYSE:ABM) CEO Sells $646,418.88 in Stock

ABM Industries Incorporated (NYSE:ABM) CEO Scott B. Salmirs sold 11,736 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $55.08, for a total value of $646,418.88. Following the completion of the transaction, the chief executive officer now directly owns 366,655 shares of the company’s stock, valued at $20,195,357.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

ABM Industries Trading Up 0.9 %

NYSE ABM opened at $55.08 on Monday. The stock’s 50-day simple moving average is $50.25 and its two-hundred day simple moving average is $45.47. ABM Industries Incorporated has a twelve month low of $37.61 and a twelve month high of $56.02. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The company has a market capitalization of $3.46 billion, a price-to-earnings ratio of 14.42 and a beta of 1.16.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a return on equity of 12.52% and a net margin of 3.04%. The firm had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. During the same period last year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. Research analysts forecast that ABM Industries Incorporated will post 3.46 EPS for the current fiscal year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.63%. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Allspring Global Investments Holdings LLC grew its stake in shares of ABM Industries by 652,535.3% during the second quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock valued at $5,611,000 after buying an additional 110,931 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of ABM Industries by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock worth $33,207,000 after purchasing an additional 13,126 shares during the last quarter. Louisiana State Employees Retirement System grew its stake in shares of ABM Industries by 2.3% in the second quarter. Louisiana State Employees Retirement System now owns 31,800 shares of the business services provider’s stock worth $1,608,000 after purchasing an additional 700 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock worth $891,000 after purchasing an additional 324 shares during the last quarter. Finally, Neo Ivy Capital Management bought a new stake in shares of ABM Industries in the second quarter worth about $3,682,000. 91.62% of the stock is owned by institutional investors.

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.