Foundry Partners LLC Raises Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Foundry Partners LLC raised its holdings in ABM Industries Incorporated (NYSE:ABM - Free Report) by 694.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 86,868 shares of the business services provider's stock after purchasing an additional 75,930 shares during the quarter. Foundry Partners LLC owned 0.14% of ABM Industries worth $4,583,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. BOKF NA acquired a new position in ABM Industries during the second quarter worth about $30,000. Capital Performance Advisors LLP bought a new stake in shares of ABM Industries during the 3rd quarter valued at approximately $30,000. Adirondack Trust Co. increased its position in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider's stock worth $35,000 after purchasing an additional 500 shares in the last quarter. Copeland Capital Management LLC bought a new position in ABM Industries in the 3rd quarter valued at approximately $37,000. Finally, Lazard Asset Management LLC boosted its position in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider's stock valued at $48,000 after buying an additional 1,030 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Insider Activity

In related news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares of the company's stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 1.04% of the company's stock.

ABM Industries Trading Up 0.7 %

ABM Industries stock traded up $0.41 during mid-day trading on Friday, hitting $56.79. 243,551 shares of the stock were exchanged, compared to its average volume of 546,003. The stock has a market capitalization of $3.57 billion, a price-to-earnings ratio of 23.62 and a beta of 1.14. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. The firm's fifty day simple moving average is $53.53 and its two-hundred day simple moving average is $51.96.

ABM Industries (NYSE:ABM - Get Free Report) last announced its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts' consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter last year, the firm earned $0.79 earnings per share. ABM Industries's quarterly revenue was up 3.3% on a year-over-year basis. Analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.58%. ABM Industries's payout ratio is presently 37.19%.

Analysts Set New Price Targets

Several research firms recently weighed in on ABM. Truist Financial raised their price objective on ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a report on Monday, September 9th. UBS Group boosted their price target on ABM Industries from $51.00 to $55.00 and gave the stock a "neutral" rating in a report on Monday, September 9th. StockNews.com downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Friday, August 2nd. Finally, Robert W. Baird boosted their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research note on Monday, September 9th.

ABM Industries Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.