ABM Industries Incorporated (NYSE:ABM) declared a quarterly dividend on Wednesday, December 13th, RTT News reports. Stockholders of record on Thursday, January 4th will be given a dividend of 0.175 per share by the business services provider on Monday, February 5th. This represents a $0.70 annualized dividend and a dividend yield of 1.60%. This is an increase from ABM Industries’s previous quarterly dividend of $0.17.
ABM Industries has raised its dividend payment by an average of 13.6% per year over the last three years and has increased its dividend every year for the last 49 years. ABM Industries has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect ABM Industries to earn $1.92 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 35.4%.
ABM Industries (NYSE:ABM) traded down $0.08 during trading on Thursday, hitting $43.75. The stock had a trading volume of 595,800 shares, compared to its average volume of 318,191. The firm has a market cap of $2,854.91, a price-to-earnings ratio of 23.19 and a beta of 0.80. ABM Industries has a 52 week low of $37.12 and a 52 week high of $45.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.52 and a quick ratio of 1.52.
In related news, SVP Dean A. Chin sold 880 shares of the business’s stock in a transaction that occurred on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total value of $37,752.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.30% of the stock is currently owned by insiders.
Several equities analysts have recently issued reports on ABM shares. Zacks Investment Research upgraded ABM Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. BidaskClub upgraded ABM Industries from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. KeyCorp upgraded ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 price objective for the company in a research report on Monday, September 11th. Finally, Robert W. Baird set a $47.00 price objective on ABM Industries and gave the company a “buy” rating in a research report on Thursday, August 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $48.20.
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ABM Industries Company Profile
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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