Rhumbline Advisers Buys 2,517 Shares of ABM Industries Incorporated (NYSE:ABM)

Rhumbline Advisers raised its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 198,756 shares of the business services provider’s stock after buying an additional 2,517 shares during the quarter. Rhumbline Advisers owned about 0.32% of ABM Industries worth $10,172,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the company. Capital Performance Advisors LLP acquired a new stake in ABM Industries in the third quarter worth $30,000. Adirondack Trust Co. raised its stake in ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after buying an additional 200 shares during the period. Quarry LP raised its position in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the period. KBC Group NV lifted its stake in ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after buying an additional 1,067 shares in the last quarter. Finally, Pallas Capital Advisors LLC bought a new stake in ABM Industries in the 3rd quarter valued at $210,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Performance

Shares of ABM stock opened at $52.47 on Tuesday. ABM Industries Incorporated has a 12 month low of $40.33 and a 12 month high of $59.78. The company’s fifty day simple moving average is $52.29 and its 200-day simple moving average is $53.58. The firm has a market cap of $3.26 billion, a PE ratio of 41.31, a P/E/G ratio of 2.77 and a beta of 1.16. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

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

ABM Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were paid a $0.265 dividend. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend was Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is 83.46%.

Insider Activity at ABM Industries

In other news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction that occurred on 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 owns 18,681 shares of the company’s stock, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Separately, UBS Group lifted their price target on ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research note on Thursday, December 19th.

ABM Industries Company Profile

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.