ABM Industries Incorporated (NYSE:ABM) fell 1.2% during trading on Friday . The stock traded as low as $37.12 and last traded at $39.57. 213,367 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 276,577 shares. The stock had previously closed at $40.04.

Several brokerages have recently commented on ABM. BidaskClub upgraded shares of ABM Industries from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Robert W. Baird set a $47.00 target price on shares of ABM Industries and gave the company a “buy” rating in a research note on Thursday, August 24th. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Wednesday, August 9th. Finally, Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating and boosted their target price for the company from $49.00 to $55.00 in a research note on Thursday, July 13th. One investment analyst has rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $48.25.

The stock has a 50-day moving average of $43.99 and a 200 day moving average of $42.80. The company has a market cap of $2.24 billion, a price-to-earnings ratio of 178.71 and a beta of 0.79.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, September 6th. The business services provider reported $0.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by $0.03. ABM Industries had a net margin of 0.29% and a return on equity of 11.46%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.32 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue was up 1.7% on a year-over-year basis. Analysts forecast that ABM Industries Incorporated will post $1.94 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 6th. Shareholders of record on Thursday, October 5th will be given a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, October 4th. ABM Industries’s dividend payout ratio is presently 251.86%.

In other ABM Industries news, SVP Dean A. Chin sold 632 shares of ABM Industries stock in a transaction dated Tuesday, August 8th. The stock was sold at an average price of $44.95, for a total value of $28,408.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider James P. Mcclure sold 1,963 shares of ABM Industries stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $44.44, for a total value of $87,235.72. The disclosure for this sale can be found here. In the last quarter, insiders sold 6,005 shares of company stock worth $257,123. Company insiders own 1.30% of the company’s stock.

Several hedge funds have recently made changes to their positions in ABM. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of ABM Industries by 65.1% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after purchasing an additional 946 shares in the last quarter. Elkfork Partners LLC boosted its stake in shares of ABM Industries by 2.5% during the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock valued at $120,000 after purchasing an additional 66 shares in the last quarter. Riverhead Capital Management LLC boosted its stake in shares of ABM Industries by 60.4% during the second quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 1,328 shares in the last quarter. Meadow Creek Investment Management LLC boosted its stake in shares of ABM Industries by 2.5% during the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock valued at $153,000 after purchasing an additional 84 shares in the last quarter. Finally, Hillsdale Investment Management Inc. boosted its stake in shares of ABM Industries by 12,666.7% during the second quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 3,800 shares in the last quarter. 91.49% of the stock is currently owned by hedge funds and other institutional investors.

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About ABM Industries

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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