ABM Industries (NYSE:ABM) Stock Price Down 6.9% - Here's Why

Shares of ABM Industries Incorporated (NYSE:ABM - Get Free Report) dropped 6.9% during mid-day trading on Wednesday . The stock traded as low as $46.53 and last traded at $46.40. Approximately 156,604 shares traded hands during trading, a decline of 67% from the average daily volume of 468,417 shares. The stock had previously closed at $49.83.

Wall Street Analyst Weigh In

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

ABM Industries Price Performance

The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The stock has a 50 day moving average price of $52.47 and a two-hundred day moving average price of $53.40. The firm has a market capitalization of $2.97 billion, a price-to-earnings ratio of 37.57, a PEG ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts' consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business 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 posted $1.01 earnings per share. The company's revenue was up 4.0% on a year-over-year basis. As a group, analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

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ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be paid a dividend of $0.265 per share. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.22%. ABM Industries's payout ratio is 83.46%.

Insider Buying and Selling

In related news, CAO Dean A. Chin sold 4,281 shares of the business's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the company's 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 transaction, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. SBI Securities Co. Ltd. acquired a new position in shares of ABM Industries during the 4th quarter worth about $33,000. Adirondack Trust Co. boosted its position in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after acquiring an additional 595 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Quarry LP boosted its position in shares of ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider's stock worth $115,000 after acquiring an additional 721 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

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.