Wilmington Savings Fund Society FSB lowered its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 4.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 129,824 shares of the business services provider's stock after selling 5,353 shares during the quarter. Wilmington Savings Fund Society FSB owned 0.21% of ABM Industries worth $6,644,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new stake in ABM Industries during the 3rd quarter worth approximately $30,000. Copeland Capital Management LLC bought a new stake in shares of ABM Industries in the third quarter worth $37,000. Adirondack Trust Co. raised its holdings in ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock valued at $46,000 after acquiring an additional 200 shares in the last quarter. GAMMA Investing LLC boosted its stake in ABM Industries by 58.8% during the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider's stock valued at $84,000 after acquiring an additional 589 shares during the last quarter. Finally, Quarry LP grew its holdings in ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider's stock worth $115,000 after acquiring an additional 721 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Separately, UBS Group upped their price objective on ABM Industries from $55.00 to $56.00 and gave the company a "neutral" rating in a research note on Thursday, December 19th.
Check Out Our Latest Research Report on ABM Industries
ABM Industries Stock Performance
ABM stock traded down $0.74 during midday trading on Wednesday, reaching $53.16. The company had a trading volume of 229,590 shares, compared to its average volume of 302,771. The firm has a market capitalization of $3.31 billion, a PE ratio of 41.86, a P/E/G ratio of 2.79 and a beta of 1.16. The stock has a 50 day moving average price of $52.93 and a 200 day moving average price of $53.65. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.
ABM Industries (NYSE:ABM - Get Free Report) last issued its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period last year, the company earned $1.01 earnings per share. The firm's revenue for the quarter was up 4.0% on a year-over-year basis. Analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.
ABM Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were issued a $0.265 dividend. This is a positive change from ABM Industries's previous quarterly dividend of $0.23. The ex-dividend date was Thursday, January 2nd. This represents a $1.06 annualized dividend and a dividend yield of 1.99%. ABM Industries's dividend payout ratio is 83.47%.
Insider Activity
In related news, CAO Dean A. Chin sold 4,281 shares of the company's stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.
About ABM Industries
(
Free Report)
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.
Recommended Stories
Before you consider ABM Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ABM Industries wasn't on the list.
While ABM Industries currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
