Dimensional Fund Advisors LP Reduces Stock Position in ABM Industries Incorporated (NYSE:ABM)

Dimensional Fund Advisors LP trimmed its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 0.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,660,901 shares of the business services provider’s stock after selling 17,551 shares during the quarter. Dimensional Fund Advisors LP owned 7.43% of ABM Industries worth $235,700,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. BOKF NA purchased a new stake in ABM Industries during the second quarter valued at approximately $30,000. Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares during the period. Lazard Asset Management LLC lifted its position in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares during the last quarter. GAMMA Investing LLC boosted its stake in ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after buying an additional 273 shares during the period. Finally, Clarity Asset Management Inc. bought a new position in ABM Industries during the fourth quarter valued at $54,000. Institutional investors own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $50.92 on Thursday. The firm’s 50 day simple moving average is $53.64 and its 200-day simple moving average is $48.77. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.44 and a current ratio of 1.38. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78. The firm has a market cap of $3.20 billion, a PE ratio of 13.33 and a beta of 1.14.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period last year, the business posted $0.79 EPS. ABM Industries’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, equities analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is 23.56%.

Insider Activity

In other news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the transaction, the chief executive officer now directly owns 378,391 shares in the company, valued at $18,503,319.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dean A. Chin sold 2,042 shares of the business’s stock in a transaction on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total value of $103,529.40. Following the completion of the transaction, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at $937,595.10. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,778 shares of company stock worth $4,039,248. 1.04% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their price target on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. UBS Group increased their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Finally, Truist Financial boosted their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th.

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.