ABM Industries Incorporated Announces Quarterly Dividend of $0.27 (NYSE:ABM)

ABM Industries Incorporated (NYSE:ABM) announced a quarterly dividend on Wednesday, March 12th, RTT News reports. Shareholders of record on Thursday, April 3rd will be given a dividend of 0.265 per share by the business services provider on Monday, May 5th. This represents a $1.06 annualized dividend and a yield of 2.33%.

ABM Industries has raised its dividend by an average of 7.1% per year over the last three years and has increased its dividend every year for the last 58 years. ABM Industries has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect ABM Industries to earn $4.10 per share next year, which means the company should continue to be able to cover its $1.06 annual dividend with an expected future payout ratio of 25.9%.

ABM Industries Price Performance

Shares of NYSE ABM opened at $45.52 on Thursday. The firm has a market cap of $2.83 billion, a P/E ratio of 35.84, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries has a 1-year low of $41.51 and a 1-year high of $59.78. The business’s 50 day moving average is $52.66 and its 200-day moving average is $53.50.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the company earned $1.01 earnings per share. Equities research analysts predict that ABM Industries will post 3.71 earnings per share for the current year.

Insider Buying and Selling at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s 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 sale, 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. Company insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

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.