ABM Industries (NYSE:ABM) Shares Gap Down - Should You Sell?

ABM Industries Incorporated (NYSE:ABM - Get Free Report)'s share price gapped down before the market opened on Wednesday . The stock had previously closed at $54.91, but opened at $49.73. ABM Industries shares last traded at $51.66, with a volume of 94,047 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on ABM. UBS Group upped their price objective on ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. Truist Financial increased their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research report on Monday, September 9th. Finally, Robert W. Baird lifted their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th.

ABM Industries Trading Down 8.4 %

The stock has a market cap of $3.16 billion, a PE ratio of 20.79 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The stock has a fifty day moving average price of $55.42 and a 200 day moving average price of $53.36.

ABM Industries (NYSE:ABM - Get Free Report) last posted its quarterly earnings data 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. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company posted $1.01 EPS. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 2.11%. This is a boost from ABM Industries's previous quarterly dividend of $0.23. ABM Industries's payout ratio is presently 43.80%.

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the firm's stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares of the company's stock, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by corporate insiders.

Institutional Trading of ABM Industries

A number of large investors have recently modified their holdings of ABM. Capital Performance Advisors LLP bought a new stake in ABM Industries during the 3rd quarter valued at $30,000. BOKF NA purchased a new position in ABM Industries during the 2nd quarter valued at about $30,000. Copeland Capital Management LLC bought a new stake in shares of ABM Industries in the 3rd quarter valued at about $37,000. GAMMA Investing LLC lifted its position in shares of ABM Industries by 58.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider's stock worth $84,000 after purchasing an additional 589 shares during the period. Finally, Quarry LP boosted its stake in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider's stock valued at $115,000 after purchasing an additional 721 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

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.