ABM Industries Inc. (ABM) Hits New 1-Year High at $38.08
Shares of ABM Industries Inc. (NYSE:ABM) reached a new 52-week high on Monday . The company traded as high as $38.08 and last traded at $38.07, with a volume of 26,475 shares. The stock had previously closed at $37.73.
ABM has been the subject of a number of analyst reports. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a report on Tuesday, August 9th. Imperial Capital increased their price objective on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a report on Thursday, June 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of C$27.30.
The firm has a market capitalization of $2.13 billion and a PE ratio of 37.23. The company’s 50 day moving average is $36.93 and its 200 day moving average is $33.53.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, June 8th. The company reported $0.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.27 by $0.04. The firm had revenue of $1.26 billion for the quarter. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The business’s revenue for the quarter was up 6.9% on a year-over-year basis. Equities research analysts expect that ABM Industries Inc. will post $1.60 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, August 1st. Investors of record on Thursday, July 7th were issued a $0.165 dividend. This represents a $0.66 annualized dividend and a yield of 1.73%.
In related news, CAO Dean A. Chin sold 937 shares of ABM Industries stock in a transaction that occurred on Thursday, June 2nd. The shares were sold at an average price of C$34.50, for a total value of C$32,326.50. Following the completion of the sale, the chief accounting officer now owns 18,676 shares in the company, valued at approximately C$644,322. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Scott J. Giacobbe sold 5,000 shares of ABM Industries stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total transaction of C$184,300.00. Following the completion of the sale, the insider now owns 37,807 shares of the company’s stock, valued at approximately C$1,393,566.02. The disclosure for this sale can be found here.
Other hedge funds recently bought and sold shares of the company. State of Tennessee Treasury Department increased its stake in ABM Industries by 112.6% in the fourth quarter. State of Tennessee Treasury Department now owns 81,640 shares of the company’s stock valued at $2,324,000 after buying an additional 43,240 shares during the period. Dimensional Fund Advisors LP increased its stake in ABM Industries by 12.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,042,772 shares of the company’s stock valued at $86,629,000 after buying an additional 327,118 shares during the period. Trexquant Investment LP increased its stake in ABM Industries by 394.1% in the fourth quarter. Trexquant Investment LP now owns 84,000 shares of the company’s stock valued at $2,391,000 after buying an additional 67,000 shares during the period. Suntrust Banks Inc. increased its stake in ABM Industries by 8.2% in the fourth quarter. Suntrust Banks Inc. now owns 75,110 shares of the company’s stock valued at $2,138,000 after buying an additional 5,701 shares during the period. Finally, Comerica Bank increased its stake in ABM Industries by 1.4% in the fourth quarter. Comerica Bank now owns 57,590 shares of the company’s stock valued at $1,531,000 after buying an additional 797 shares during the period.
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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