ABM Industries Incorporated (NYSE:ABM – Get Free Report) announced a quarterly dividend on Friday, June 5th. Stockholders of record on Thursday, July 2nd will be paid a dividend of 0.29 per share by the business services provider on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Thursday, July 2nd.
ABM Industries has raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 59 consecutive years. ABM Industries has a payout ratio of 28.2% meaning its dividend is sufficiently covered by earnings. Research analysts expect ABM Industries to earn $4.38 per share next year, which means the company should continue to be able to cover its $1.16 annual dividend with an expected future payout ratio of 26.5%.
ABM Industries Price Performance
Shares of ABM opened at $42.33 on Friday. The company has a 50 day moving average price of $39.61 and a 200-day moving average price of $42.17. ABM Industries has a fifty-two week low of $36.96 and a fifty-two week high of $50.12. The stock has a market capitalization of $2.48 billion, a PE ratio of 16.28 and a beta of 0.71. The company has a debt-to-equity ratio of 0.93, a quick ratio of 1.50 and a current ratio of 1.50.
Institutional Investors Weigh In On ABM Industries
Hedge funds and other institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd raised its holdings in shares of ABM Industries by 590.9% in the third quarter. Caitong International Asset Management Co. Ltd now owns 608 shares of the business services provider’s stock worth $28,000 after buying an additional 520 shares during the last quarter. First Horizon Corp raised its holdings in shares of ABM Industries by 141.4% in the fourth quarter. First Horizon Corp now owns 886 shares of the business services provider’s stock worth $37,000 after buying an additional 519 shares during the last quarter. Western Wealth Management LLC purchased a new position in shares of ABM Industries in the first quarter worth $39,000. Quarry LP raised its holdings in shares of ABM Industries by 667.0% in the third quarter. Quarry LP now owns 882 shares of the business services provider’s stock worth $41,000 after buying an additional 767 shares during the last quarter. Finally, Covestor Ltd raised its holdings in shares of ABM Industries by 89.1% in the fourth quarter. Covestor Ltd now owns 1,055 shares of the business services provider’s stock worth $45,000 after buying an additional 497 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.
About ABM Industries
ABM Industries Incorporated is a leading provider of integrated facility services, offering a comprehensive suite of solutions designed to support the operation, maintenance and enhancement of commercial properties. The company’s core services include janitorial and custodial maintenance, HVAC and mechanical systems support, electrical and lighting solutions, and energy optimization. Additional offerings span parking management, security services, landscaping, and specialized support such as technical solutions and sustainability consulting.
Serving a diverse range of markets, ABM caters to clients in commercial real estate, aviation, healthcare, manufacturing, education, government entities, and technology campuses.
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