Mason Street Advisors LLC purchased a new stake in ABM Industries Inc. (NYSE:ABM) during the second quarter, Holdings Channel reports. The firm purchased 10,965 shares of the company’s stock, valued at approximately $400,000.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bruderman Asset Management LLC raised its position in ABM Industries by 100.4% in the second quarter. Bruderman Asset Management LLC now owns 2,916 shares of the company’s stock valued at $106,000 after buying an additional 1,461 shares in the last quarter. Quantbot Technologies LP raised its position in ABM Industries by 334.7% in the second quarter. Quantbot Technologies LP now owns 3,486 shares of the company’s stock valued at $127,000 after buying an additional 2,684 shares in the last quarter. Tower Research Capital LLC TRC raised its position in ABM Industries by 3,982.0% in the second quarter. Tower Research Capital LLC TRC now owns 4,082 shares of the company’s stock valued at $149,000 after buying an additional 3,982 shares in the last quarter. Advisor Group Inc. purchased a new position in ABM Industries during the second quarter valued at approximately $148,000. Finally, Acadian Asset Management LLC purchased a new position in ABM Industries during the second quarter valued at approximately $168,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
Shares of ABM Industries Inc. (NYSE:ABM) opened at 39.10 on Thursday. The stock has a 50 day moving average price of $38.90 and a 200 day moving average price of $35.72. ABM Industries Inc. has a 52 week low of $26.50 and a 52 week high of $40.47. The firm has a market capitalization of $2.18 billion, a PE ratio of 25.29 and a beta of 0.75.
ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.40 by $0.14. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The firm earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period in the previous year, the firm posted $0.47 EPS. The company’s quarterly revenue was down 3.8% compared to the same quarter last year. Equities analysts forecast that ABM Industries Inc. will post $1.73 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be issued a $0.165 dividend. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 annualized dividend and a yield of 1.69%. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
Several research analysts have recently commented on the company. Imperial Capital raised their price target on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, June 23rd. Robert W. Baird restated an “outperform” rating and set a $44.00 price target on shares of ABM Industries in a research report on Saturday, September 10th. Finally, Zacks Investment Research upgraded ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price target for the company in a research report on Friday, September 9th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of C$32.05.
In other ABM Industries news, Director Maryellen C. Herringer sold 1,854 shares of the business’s stock in a transaction on Friday, July 8th. The stock was sold at an average price of C$36.83, for a total value of C$68,282.82. Following the completion of the transaction, the director now directly owns 156,777 shares in the company, valued at approximately C$5,774,096.91. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Scott J. Giacobbe sold 1,300 shares of the business’s stock in a transaction on Friday, September 2nd. The shares were sold at an average price of C$39.02, for a total value of C$50,726.00. Following the completion of the transaction, the insider now owns 34,183 shares of the company’s stock, valued at C$1,333,820.66. The disclosure for this sale can be found here. 2.00% of the stock is owned by company insiders.
About ABM Industries
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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