CIBC Asset Management Inc Invests $265,000 in ABM Industries, Inc. (ABM) Stock

CIBC Asset Management Inc purchased a new stake in shares of ABM Industries, Inc. (NYSE:ABM) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 7,019 shares of the business services provider’s stock, valued at approximately $265,000.

Other institutional investors also recently bought and sold shares of the company. Lee Thomas H Partners LP purchased a new position in ABM Industries in the third quarter worth $188,691,000. Dimensional Fund Advisors LP lifted its stake in shares of ABM Industries by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,380,054 shares of the business services provider’s stock worth $99,272,000 after buying an additional 10,556 shares during the period. Channing Capital Management LLC lifted its stake in shares of ABM Industries by 4.8% during the third quarter. Channing Capital Management LLC now owns 1,463,858 shares of the business services provider’s stock worth $61,058,000 after buying an additional 66,957 shares during the period. Vaughan Nelson Investment Management L.P. lifted its stake in shares of ABM Industries by 17.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,448,550 shares of the business services provider’s stock worth $54,639,000 after buying an additional 212,775 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in shares of ABM Industries by 24.8% during the third quarter. Macquarie Group Ltd. now owns 1,090,915 shares of the business services provider’s stock worth $45,502,000 after buying an additional 216,458 shares during the period. 96.22% of the stock is owned by hedge funds and other institutional investors.

Shares of ABM Industries, Inc. (NYSE ABM) opened at $36.27 on Thursday. ABM Industries, Inc. has a one year low of $33.70 and a one year high of $45.12. The company has a quick ratio of 1.63, a current ratio of 1.63 and a debt-to-equity ratio of 0.84. The firm has a market cap of $2,406.73, a P/E ratio of 517.36 and a beta of 0.73.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 EPS for the quarter, missing the consensus estimate of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The company had revenue of $1.50 billion during the quarter, compared to analyst estimates of $1.49 billion. During the same quarter in the prior year, the company posted $0.51 earnings per share. The business’s revenue was up 13.3% compared to the same quarter last year. sell-side analysts forecast that ABM Industries, Inc. will post 2.1 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Monday, February 5th. Shareholders of record on Thursday, January 4th were issued a dividend of $0.175 per share. The ex-dividend date was Wednesday, January 3rd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a yield of 1.93%. ABM Industries’s dividend payout ratio is 1,000.14%.

ABM has been the subject of a number of research reports. Zacks Investment Research downgraded shares of ABM Industries from a “hold” rating to a “strong sell” rating in a research report on Friday, December 15th. TheStreet downgraded shares of ABM Industries from a “b” rating to a “c+” rating in a research report on Friday, December 29th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $47.50.

In other ABM Industries news, Director Linda Chavez sold 2,103 shares of the stock in a transaction that occurred on Friday, January 12th. The shares were sold at an average price of $38.89, for a total transaction of $81,785.67. Following the sale, the director now directly owns 16,557 shares in the company, valued at approximately $643,901.73. The transaction was disclosed in a document filed with the SEC, which is available through this link. 1.30% of the stock is owned by corporate insiders.

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ABM Industries Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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