ABM Industries Incorporated (NYSE:ABM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its position in shares of ABM Industries Incorporated (NYSE:ABM) by 0.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,604 shares of the business services provider’s stock after selling 213 shares during the period. State of Alaska Department of Revenue owned 0.06% of ABM Industries worth $1,822,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in ABM. Adirondack Trust Co. increased its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares in the last quarter. Creative Financial Designs Inc. ADV grew its holdings in shares of ABM Industries by 2.3% during the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after buying an additional 378 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries during the third quarter worth $30,000. Kovitz Investment Group Partners LLC raised its position in shares of ABM Industries by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock valued at $791,000 after buying an additional 588 shares during the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of ABM Industries by 58.8% in the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after buying an additional 589 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, UBS Group increased their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a report on Thursday, December 19th.

Insider Activity at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by insiders.

ABM Industries Stock Performance

NYSE:ABM opened at $53.80 on Wednesday. The company’s 50-day moving average is $53.00 and its two-hundred day moving average is $53.66. ABM Industries Incorporated has a 1-year low of $39.64 and a 1-year high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The firm has a market capitalization of $3.35 billion, a price-to-earnings ratio of 42.36, a PEG ratio of 2.79 and a beta of 1.16.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. During the same period in the prior year, the firm posted $1.01 earnings per share. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. Analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were given a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.97%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date was Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 83.47%.

About ABM Industries

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.