Dean A. Chin Sells 880 Shares of ABM Industries Incorporated (ABM) Stock
ABM Industries Incorporated (NYSE:ABM) SVP Dean A. Chin sold 880 shares of ABM Industries stock in a transaction on Wednesday, October 4th. The shares were sold at an average price of $42.90, for a total value of $37,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
Dean A. Chin also recently made the following trade(s):
- On Tuesday, August 8th, Dean A. Chin sold 632 shares of ABM Industries stock. The shares were sold at an average price of $44.95, for a total value of $28,408.40.
Shares of ABM Industries Incorporated (NYSE:ABM) traded down 0.42% on Friday, hitting $42.62. The company’s stock had a trading volume of 298,833 shares. The stock has a market capitalization of $2.78 billion, a P/E ratio of 166.48 and a beta of 0.80. ABM Industries Incorporated has a 52 week low of $37.12 and a 52 week high of $45.12. The stock’s 50 day moving average price is $41.87 and its 200 day moving average price is $42.58.
ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, September 6th. The business services provider reported $0.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.03). The business had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.32 billion. ABM Industries had a return on equity of 11.37% and a net margin of 0.29%. The company’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 earnings per share. On average, analysts forecast that ABM Industries Incorporated will post $1.88 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a yield of 1.60%. The ex-dividend date is Wednesday, October 4th. ABM Industries’s payout ratio is 251.86%.
ABM has been the topic of a number of research analyst reports. Sidoti upgraded ABM Industries from a “neutral” rating to a “buy” rating and lifted their target price for the company from $49.00 to $55.00 in a report on Thursday, July 13th. Robert W. Baird restated an “outperform” rating and set a $47.00 price objective (down previously from $49.00) on shares of ABM Industries in a research note on Thursday, July 13th. Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $48.00 price objective on the stock in a research note on Monday, July 17th. BidaskClub upgraded ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Finally, KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective on the stock in a research note on Monday, September 11th. One equities research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ABM Industries has a consensus rating of “Buy” and a consensus price target of $48.20.
A number of institutional investors have recently bought and sold shares of ABM. BlackRock Inc. increased its position in ABM Industries by 35,805.5% during the first quarter. BlackRock Inc. now owns 7,121,861 shares of the business services provider’s stock worth $310,513,000 after buying an additional 7,102,026 shares during the last quarter. State Street Corp increased its position in ABM Industries by 236.6% during the first quarter. State Street Corp now owns 4,414,087 shares of the business services provider’s stock worth $192,454,000 after buying an additional 3,102,800 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new position in ABM Industries during the second quarter worth $30,970,000. Systematic Financial Management LP increased its position in ABM Industries by 1,079.2% during the second quarter. Systematic Financial Management LP now owns 455,594 shares of the business services provider’s stock worth $18,916,000 after buying an additional 416,959 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in ABM Industries by 6.8% during the first quarter. Vanguard Group Inc. now owns 5,261,484 shares of the business services provider’s stock worth $229,401,000 after buying an additional 333,410 shares during the last quarter. 78.22% of the stock is currently owned by hedge funds and other institutional investors.
About ABM Industries
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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