ABM Industries Incorporated (NYSE:ABM) Shares Sold by Hotchkis & Wiley Capital Management LLC

Hotchkis & Wiley Capital Management LLC trimmed its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 31.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,960 shares of the business services provider's stock after selling 78,620 shares during the period. Hotchkis & Wiley Capital Management LLC owned 0.27% of ABM Industries worth $8,914,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ABM. Capital Performance Advisors LLP acquired a new stake in shares of ABM Industries in the 3rd quarter worth $30,000. BOKF NA purchased a new stake in shares of ABM Industries during the second quarter worth about $30,000. Copeland Capital Management LLC acquired a new position in shares of ABM Industries during the third quarter valued at about $37,000. GAMMA Investing LLC raised its position in shares of ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider's stock valued at $51,000 after purchasing an additional 273 shares during the last quarter. Finally, Innealta Capital LLC acquired a new stake in ABM Industries in the 2nd quarter worth approximately $142,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Stock Performance

Shares of NYSE ABM traded down $0.39 during trading on Thursday, reaching $56.70. 270,535 shares of the company traded hands, compared to its average volume of 536,632. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a market cap of $3.56 billion, a P/E ratio of 23.58 and a beta of 1.14. The firm's fifty day simple moving average is $54.57 and its 200 day simple moving average is $52.72.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The business's quarterly revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.79 EPS. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.87%. This is an increase from ABM Industries's previous quarterly dividend of $0.23. ABM Industries's dividend payout ratio is 37.19%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Truist Financial upped their price target on shares of ABM Industries from $49.00 to $55.00 and gave the company a "hold" rating in a research note on Monday, September 9th. UBS Group upped their target price on ABM Industries from $51.00 to $55.00 and gave the company a "neutral" rating in a research report on Monday, September 9th. Finally, Robert W. Baird raised their price target on shares of ABM Industries from $49.00 to $56.00 and gave the stock a "neutral" rating in a research report on Monday, September 9th.

Insider Transactions at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the company's stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company's stock, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.04% of the company's stock.

About ABM Industries

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.