ABM Industries Inc. (ABM) Shares Sold by Advisors Asset Management Inc.
Advisors Asset Management Inc. lowered its position in ABM Industries Inc. (NYSE:ABM) by 42.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,733 shares of the company’s stock after selling 15,756 shares during the period. Advisors Asset Management Inc.’s holdings in ABM Industries were worth $793,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new position in ABM Industries during the fourth quarter worth $15,596,000. Hillcrest Asset Management LLC purchased a new position in ABM Industries during the first quarter valued at about $10,624,000. Aberdeen Asset Management PLC UK raised its position in ABM Industries by 85.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 467,016 shares of the company’s stock valued at $17,036,000 after buying an additional 214,644 shares during the last quarter. Emerald Acquisition Ltd. purchased a new position in ABM Industries during the second quarter valued at about $3,041,000. Finally, Chicago Equity Partners LLC raised its position in ABM Industries by 471.8% in the second quarter. Chicago Equity Partners LLC now owns 80,165 shares of the company’s stock valued at $2,924,000 after buying an additional 66,145 shares during the last quarter. Institutional investors and hedge funds own 90.28% of the company’s stock.
ABM Industries Inc. (NYSE:ABM) traded down 0.57% during midday trading on Friday, reaching $39.77. The company’s stock had a trading volume of 101,849 shares. ABM Industries Inc. has a 1-year low of $26.50 and a 1-year high of $40.47. The company has a 50 day moving average of $38.40 and a 200-day moving average of $35.15. The company has a market capitalization of $2.22 billion, a P/E ratio of 25.72 and a beta of 0.78.
ABM Industries (NYSE:ABM) last released its quarterly earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share for the quarter, topping the Zacks’ 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 company earned $1.30 billion during the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was down 3.8% compared to the same quarter last year. Equities research analysts anticipate that ABM Industries Inc. will post $1.73 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, November 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.65%. ABM Industries’s dividend payout ratio (DPR) is 42.58%.
ABM has been the topic of several research reports. Imperial Capital increased their target price on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research note on Thursday, June 23rd. Zacks Investment Research lowered ABM Industries from a “buy” rating to a “sell” rating in a research note on Tuesday, August 9th. Finally, Robert W. Baird reissued an “outperform” rating and set a $40.00 target price on shares of ABM Industries in a research note on Wednesday, August 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of C$32.05.
In other news, insider Scott J. Giacobbe sold 13,700 shares of ABM Industries stock in a transaction on Thursday, September 8th. The stock was sold at an average price of C$39.33, for a total value of C$538,821.00. Following the completion of the sale, 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 document filed with the SEC, which is available through the SEC website. Also, insider Scott J. Giacobbe sold 5,000 shares of ABM Industries stock in a transaction on Friday, July 15th. The shares were sold at an average price of C$36.86, for a total value of C$184,300.00. Following the completion of the sale, 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. 2.00% of the stock is owned by 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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