Strs Ohio decreased its position in ABM Industries Inc. (NYSE:ABM) by 4.0% during the second quarter, Holdings Channel reports. The institutional investor owned 33,500 shares of the company’s stock after selling 1,400 shares during the period. Strs Ohio owned approximately 0.06% of ABM Industries worth $1,222,000 at the end of the most recent reporting period.
A number of other hedge funds also recently modified their holdings of ABM. BlackRock Fund Advisors increased its position in shares of ABM Industries by 0.8% in the first quarter. BlackRock Fund Advisors now owns 3,543,162 shares of the company’s stock worth $114,480,000 after buying an additional 29,711 shares during the last quarter. State Street Corp increased its position in shares of ABM Industries by 1.9% in the first quarter. State Street Corp now owns 1,137,054 shares of the company’s stock worth $36,737,000 after buying an additional 20,920 shares during the last quarter. Hillcrest Asset Management LLC acquired a new position in shares of ABM Industries during the first quarter worth $10,624,000. Prudential Financial Inc. increased its position in shares of ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock worth $4,341,000 after buying an additional 3,600 shares during the last quarter. Finally, BlackRock Group LTD increased its position in shares of ABM Industries by 5.9% in the first quarter. BlackRock Group LTD now owns 111,122 shares of the company’s stock worth $3,591,000 after buying an additional 6,235 shares during the last quarter. 90.56% of the stock is owned by hedge funds and other institutional investors.
ABM Industries Inc. (NYSE:ABM) traded down 0.37% during trading on Wednesday, reaching $38.07. The company had a trading volume of 352,789 shares. The firm’s 50 day moving average price is $38.99 and its 200 day moving average price is $35.92. ABM Industries Inc. has a 12-month low of $26.50 and a 12-month high of $40.47. The firm has a market capitalization of $2.12 billion, a PE ratio of 24.62 and a beta of 0.75.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.14. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The business earned $1.30 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The business’s revenue for the quarter was down 3.8% on a year-over-year basis. Equities research analysts forecast that ABM Industries Inc. will post $1.73 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Shareholders of record on Thursday, October 6th will be paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.73%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio is 42.58%.
A number of equities analysts have recently weighed in on ABM shares. Zacks Investment Research downgraded ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Robert W. Baird restated an “outperform” rating and issued a $44.00 target price on shares of ABM Industries in a research note on Saturday, September 10th. Finally, Imperial Capital upped their price objective on ABM Industries from $33.00 to $38.00 and gave the company a “hold” rating in a research note on Thursday, June 23rd. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of C$32.05.
In other ABM Industries news, insider Scott J. Giacobbe sold 13,700 shares of the firm’s stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of C$39.33, for a total transaction of C$538,821.00. Following the completion of the transaction, the insider now owns 33,383 shares of the company’s stock, valued at C$1,312,953.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Scott J. Giacobbe sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total transaction of C$184,300.00. Following the transaction, the insider now directly owns 37,807 shares of the company’s stock, valued at approximately C$1,393,566.02. The disclosure for this sale can be found here. Company insiders own 2.00% of the company’s stock.
ABM Industries Company Profile
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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