Olstein Capital Management L.P. Has $9.97 Million Stock Position in ABM Industries Incorporated (NYSE:ABM)

Olstein Capital Management L.P. decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 34.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 189,000 shares of the business services provider's stock after selling 100,953 shares during the quarter. ABM Industries comprises about 1.7% of Olstein Capital Management L.P.'s investment portfolio, making the stock its 10th biggest position. Olstein Capital Management L.P. owned about 0.30% of ABM Industries worth $9,972,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Pacer Advisors Inc. acquired a new stake in ABM Industries in the 2nd quarter worth about $125,118,000. Pzena Investment Management LLC purchased a new stake in ABM Industries in the second quarter valued at approximately $21,032,000. LSV Asset Management acquired a new position in ABM Industries during the first quarter worth approximately $17,645,000. SG Capital Management LLC purchased a new position in ABM Industries during the first quarter worth approximately $13,730,000. Finally, Invenomic Capital Management LP acquired a new position in shares of ABM Industries in the 1st quarter valued at $10,071,000. Hedge funds and other institutional investors own 91.62% of the company's stock.

ABM Industries Stock Down 0.4 %

Shares of NYSE:ABM traded down $0.24 during mid-day trading on Thursday, hitting $56.95. 381,511 shares of the company traded hands, compared to its average volume of 559,790. The firm's 50 day simple moving average is $52.91 and its 200 day simple moving average is $51.09. The firm has a market cap of $3.58 billion, a P/E ratio of 23.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. ABM Industries Incorporated has a 52-week low of $39.27 and a 52-week high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last posted its earnings results on Friday, September 6th. The business services provider reported $0.94 EPS 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 for the quarter, compared to analysts' expectations of $2.04 billion. During the same period in the previous year, the company posted $0.79 earnings per share. The business's revenue for the quarter was up 3.3% compared to the same quarter last year. On average, equities analysts anticipate that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

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

Analysts Set New Price Targets

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

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business's stock in a transaction dated Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now owns 45,260 shares of the company's stock, valued at approximately $2,442,229.60. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.04% of the stock is currently owned by corporate insiders.

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.