ABM Industries (NYSE:ABM) Reaches New 12-Month High at $41.39

ABM Industries, Inc. (NYSE:ABM) shares hit a new 52-week high on Friday . The stock traded as high as $41.39 and last traded at $41.18, with a volume of 220483 shares traded. The stock had previously closed at $40.81.

Several brokerages have recently weighed in on ABM. Maxim Group set a $45.00 price target on shares of ABM Industries and gave the stock a “buy” rating in a research report on Friday, April 12th. KeyCorp upped their price target on shares of Vipshop from $10.00 to $11.00 and gave the stock an “overweight” rating in a research report on Friday, April 5th. Zacks Investment Research cut shares of GENEL ENERGY PL/ADR from a “buy” rating to a “hold” rating in a research report on Tuesday, May 7th. Finally, ValuEngine raised shares of YY from a “sell” rating to a “hold” rating in a research report on Friday, June 7th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $40.46.

The firm has a 50-day moving average of $39.09. The firm has a market capitalization of $2.73 billion, a PE ratio of 21.34 and a beta of 0.64. The company has a current ratio of 1.50, a quick ratio of 1.50 and a debt-to-equity ratio of 0.61.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, June 5th. The business services provider reported $0.47 EPS for the quarter, beating the Zacks’ consensus estimate of $0.41 by $0.06. ABM Industries had a net margin of 1.33% and a return on equity of 8.82%. The company had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.61 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. ABM Industries’s revenue for the quarter was up .9% compared to the same quarter last year. As a group, research analysts forecast that ABM Industries, Inc. will post 2.03 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be given a dividend of $0.18 per share. The ex-dividend date of this dividend is Wednesday, July 3rd. This represents a $0.72 dividend on an annualized basis and a yield of 1.75%. ABM Industries’s payout ratio is 38.10%.

In related news, CAO Dean A. Chin sold 8,758 shares of the stock in a transaction that occurred on Monday, April 29th. The shares were sold at an average price of $37.53, for a total transaction of $328,687.74. Following the completion of the sale, the chief accounting officer now owns 28,644 shares of the company’s stock, valued at $1,075,009.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Linda Chavez sold 6,000 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $40.00, for a total transaction of $240,000.00. Following the sale, the director now directly owns 21,070 shares of the company’s stock, valued at approximately $842,800. The disclosure for this sale can be found here. Insiders have sold 25,729 shares of company stock valued at $980,100 in the last three months. 0.94% of the stock is currently owned by corporate insiders.

Large investors have recently bought and sold shares of the stock. Walthausen & Co. LLC increased its stake in ABM Industries by 20.1% during the 1st quarter. Walthausen & Co. LLC now owns 383,983 shares of the business services provider’s stock valued at $13,958,000 after purchasing an additional 64,260 shares in the last quarter. Captrust Financial Advisors increased its stake in ABM Industries by 164.7% during the 4th quarter. Captrust Financial Advisors now owns 863 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 537 shares in the last quarter. Bank of New York Mellon Corp increased its stake in ABM Industries by 14.4% during the 4th quarter. Bank of New York Mellon Corp now owns 1,121,460 shares of the business services provider’s stock valued at $36,010,000 after purchasing an additional 140,814 shares in the last quarter. Great West Life Assurance Co. Can increased its stake in ABM Industries by 7.0% during the 4th quarter. Great West Life Assurance Co. Can now owns 88,756 shares of the business services provider’s stock valued at $2,632,000 after purchasing an additional 5,791 shares in the last quarter. Finally, Principal Financial Group Inc. increased its stake in ABM Industries by 2.1% during the 4th quarter. Principal Financial Group Inc. now owns 542,699 shares of the business services provider’s stock valued at $17,426,000 after purchasing an additional 10,988 shares in the last quarter.

ABM Industries Company Profile (NYSE:ABM)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.

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