ABM Industries (NYSE:ABM) Trading Down 6.9% – Should You Sell?

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

Wall Street Analysts Forecast Growth

Separately, UBS Group lifted their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

ABM Industries Trading Down 4.9 %

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

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, March 12th. The business services provider reported $0.87 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.08. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. As a group, research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

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

Insider Activity

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

Institutional Trading of ABM Industries

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Janney Montgomery Scott LLC lifted its position in ABM Industries by 169.3% in the 3rd quarter. Janney Montgomery Scott LLC now owns 31,240 shares of the business services provider’s stock valued at $1,648,000 after acquiring an additional 19,639 shares in the last quarter. Principal Financial Group Inc. grew its stake in ABM Industries by 4.9% in the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after buying an additional 15,438 shares in the last quarter. Capital Performance Advisors LLP purchased a new position in ABM Industries in the 3rd quarter valued at approximately $30,000. Versor Investments LP boosted its position in shares of ABM Industries by 180.7% during the 3rd quarter. Versor Investments LP now owns 16,000 shares of the business services provider’s stock valued at $844,000 after acquiring an additional 10,300 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its position in ABM Industries by 279.4% in the 3rd quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock worth $5,702,000 after buying an additional 79,587 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.