Exchange Traded Concepts LLC Sells 451 Shares of ABM Industries Incorporated (NYSE:ABM)

Exchange Traded Concepts LLC cut its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 30.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,036 shares of the business services provider’s stock after selling 451 shares during the quarter. Exchange Traded Concepts LLC’s holdings in ABM Industries were worth $55,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. AlphaMark Advisors LLC acquired a new position in shares of ABM Industries in the first quarter worth approximately $303,000. Olstein Capital Management L.P. boosted its position in ABM Industries by 18.3% during the first quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider’s stock worth $12,938,000 after purchasing an additional 44,953 shares during the period. Commonwealth Equity Services LLC raised its holdings in ABM Industries by 171.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 13,782 shares of the business services provider’s stock valued at $615,000 after acquiring an additional 8,710 shares during the period. Van ECK Associates Corp grew its holdings in ABM Industries by 36.9% during the 1st quarter. Van ECK Associates Corp now owns 78,681 shares of the business services provider’s stock valued at $3,511,000 after buying an additional 21,220 shares in the last quarter. Finally, Janney Montgomery Scott LLC purchased a new stake in ABM Industries in the 1st quarter worth approximately $481,000. 91.62% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

NYSE ABM opened at $53.36 on Thursday. ABM Industries Incorporated has a 1-year low of $38.48 and a 1-year high of $59.78. The stock has a market capitalization of $3.35 billion, a price-to-earnings ratio of 13.97 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The business’s fifty day moving average price is $53.12 and its 200-day moving average price is $50.39.

ABM Industries (NYSE:ABM) last announced its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same period in the previous year, the business posted $0.79 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 23.56%.

ABM Industries 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.