ABM Industries, Inc. (ABM) To Go Ex-Dividend on July 3rd
ABM Industries, Inc. (NYSE:ABM) declared a quarterly dividend on Wednesday, June 5th, RTT News reports. Shareholders of record on Friday, July 5th will be paid a dividend of 0.18 per share by the business services provider on Monday, August 5th. This represents a $0.72 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date of this dividend is Wednesday, July 3rd.
ABM Industries has increased its dividend payment by an average of 3.0% annually over the last three years and has increased its dividend annually for the last 51 consecutive years. ABM Industries has a payout ratio of 38.3% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ABM Industries to earn $2.24 per share next year, which means the company should continue to be able to cover its $0.72 annual dividend with an expected future payout ratio of 32.1%.
Shares of NYSE:ABM opened at $40.00 on Monday. The company has a market cap of $2.65 billion, a P/E ratio of 21.16 and a beta of 0.64. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.50 and a quick ratio of 1.50. The company has a fifty day simple moving average of $38.38. ABM Industries has a 1 year low of $25.64 and a 1 year high of $41.33.
In other ABM Industries news, insider Scott B. Salmirs sold 10,971 shares of the firm’s stock in a transaction dated Tuesday, April 23rd. The stock was sold at an average price of $37.50, for a total value of $411,412.50. Following the sale, the insider now owns 157,091 shares of the company’s stock, valued at approximately $5,890,912.50. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 8,758 shares of the firm’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $37.53, for a total value of $328,687.74. Following the completion of the sale, the chief accounting officer now directly owns 28,644 shares in the company, valued at approximately $1,075,009.32. The disclosure for this sale can be found here. Corporate insiders own 0.94% of the company’s stock.
A number of research analysts have issued reports on the company. ValuEngine upgraded ABM Industries from a “hold” rating to a “buy” rating in a research note on Friday, June 7th. Zacks Investment Research upgraded ABM Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, May 7th. Maxim Group set a $45.00 price target on ABM Industries and gave the stock a “buy” rating in a research note on Friday, April 12th. KeyCorp assumed coverage on ABM Industries in a research note on Friday, April 5th. They set a “sector weight” rating and a $36.83 price target for the company. Finally, Robert W. Baird set a $37.00 price target on ABM Industries and gave the stock a “hold” rating in a research note on Thursday, March 7th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $40.46.
ABM Industries Company Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. It operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. The company offers janitorial, electrical and lighting, energy, facilities engineering, HVAC and mechanical, landscape and turf, mission critical, and parking solutions.
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