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

ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Wednesday, March 12th, RTT News reports. Shareholders of record on Thursday, April 3rd will be paid 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 dividend yield of 2.25%. The ex-dividend date is Thursday, April 3rd.

ABM Industries has raised its dividend payment by an average of 7.1% annually over the last three years and has raised its dividend every year for the last 58 years. ABM Industries has a payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. 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 Stock Performance

ABM Industries stock opened at $47.12 on Friday. The company has a 50 day moving average price of $52.55 and a 200-day moving average price of $53.45. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries has a fifty-two week low of $41.51 and a fifty-two week high of $59.78. The company has a market capitalization of $2.93 billion, a PE ratio of 37.10, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the firm posted $1.01 earnings per share. As a group, equities analysts forecast that ABM Industries will post 3.71 earnings per share for the current year.

Insiders Place Their Bets

In related news, COO Rene Jacobsen sold 10,000 shares of the business’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 completion of the sale, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction dated 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 directly owns 18,681 shares of the company’s stock, valued at $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. Insiders own 0.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group decreased their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday.

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.