ABM Industries Inc's SVP - Chief Accounting Officer Dean Chin Sells Company Shares
ABM Industries Inc (NYSE:ABM), a leading provider of facility solutions, has reported an insider sale according to a recent SEC filing. The company's SVP - Chief Accounting Officer, Dean Chin, sold 5,465 shares of the company on March 22, 2024. The transaction was executed at an average price of $44.89 per share, resulting in a total sale amount of $245,423.85.Over the past year, the insider has sold a total of 5,465 shares of ABM Industries Inc and has not made any purchase of the company's stock. This latest transaction continues a trend of insider sales at the company, with a total of 6 insider sells and no insider buys occurring over the same timeframe.
The market capitalization of ABM Industries Inc stands at $2.77 billion, with the stock trading at $44.89 on the day of the insider's sale. The company's price-earnings ratio is 11.20, which is below both the industry median of 17.88 and the company's historical median price-earnings ratio. This valuation suggests that the stock is trading at a lower multiple compared to its peers and its own historical levels.ABM Industries Inc's stock is currently assessed as Modestly Undervalued with a price-to-GF-Value ratio of 0.86, based on a GuruFocus Value of $52.08. The GF Value is an intrinsic value estimate that takes into account historical trading multiples, a GuruFocus adjustment factor related to the company's past performance, and future business performance estimates from Morningstar analysts.
The recent insider sale by Dean Chin may attract the attention of investors who track insider behaviors as an indicator of a company's future performance. However, it is important to consider a wide range of factors when evaluating the potential investment in any stock.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
This article first appeared on GuruFocus.
