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

ABM Industries Incorporated (NYSE:ABM - Get Free Report) 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 yield of 2.25%. The ex-dividend date is Thursday, April 3rd.

ABM Industries has increased its dividend by an average of 7.1% annually over the last three years and has raised its dividend annually for the last 58 consecutive years. ABM Industries has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Equities research 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

NYSE ABM traded up $1.61 during midday trading on Thursday, hitting $47.12. The company had a trading volume of 957,451 shares, compared to its average volume of 475,570. 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. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a 50-day moving average price of $52.55 and a 200-day moving average price of $53.45. ABM Industries has a twelve month low of $41.51 and a twelve month high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion during the quarter, compared to analysts' expectations of $2.08 billion. During the same period in the previous year, the firm earned $1.01 EPS. The company's quarterly revenue was up 4.0% compared to the same quarter last year. As a group, analysts anticipate that ABM Industries will post 3.71 earnings per share for the current fiscal year.

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Insider Transactions at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

Wall Street Analyst Weigh In

Separately, UBS Group cut their price target on ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday.

ABM Industries Company Profile

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.