ABM Industries (NYSE:ABM) Trading 2.4% Higher Following Better-Than-Expected Earnings

ABM Industries Incorporated (NYSE:ABMGet Free Report) shares traded up 2.4% during mid-day trading on Friday following a stronger than expected earnings report. The company traded as high as $49.63 and last traded at $49.57. 45,132 shares traded hands during mid-day trading, a decline of 92% from the average session volume of 539,852 shares. The stock had previously closed at $48.40.

The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.90 EPS.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.80%. The ex-dividend date is Friday, July 5th. ABM Industries’s dividend payout ratio is currently 23.02%.

Insider Activity at ABM Industries

In other news, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Insiders sold a total of 23,643 shares of company stock valued at $1,055,490 in the last three months. Company insiders own 1.04% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Arizona State Retirement System boosted its holdings in shares of ABM Industries by 1.4% during the 3rd quarter. Arizona State Retirement System now owns 18,833 shares of the business services provider’s stock valued at $754,000 after acquiring an additional 265 shares during the last quarter. Quantbot Technologies LP purchased a new stake in ABM Industries in the third quarter worth approximately $151,000. Swiss National Bank grew its position in ABM Industries by 1.0% in the 3rd quarter. Swiss National Bank now owns 145,400 shares of the business services provider’s stock worth $5,817,000 after purchasing an additional 1,500 shares during the period. Charles Schwab Investment Management Inc. raised its stake in ABM Industries by 2.7% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider’s stock valued at $24,474,000 after buying an additional 15,976 shares during the last quarter. Finally, Van ECK Associates Corp raised its stake in ABM Industries by 26.2% during the 3rd quarter. Van ECK Associates Corp now owns 67,585 shares of the business services provider’s stock valued at $2,704,000 after buying an additional 14,029 shares during the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $3.16 billion, a P/E ratio of 12.48 and a beta of 1.16. The firm has a fifty day moving average price of $45.38 and a two-hundred day moving average price of $43.53.

About ABM Industries

(Get Free Report)

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.

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