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.
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