Amalgamated Bank Sells 957 Shares of ABM Industries Incorporated (NYSE:ABM)

Amalgamated Bank trimmed its position in ABM Industries Incorporated (NYSE:ABM) by 4.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,442 shares of the business services provider’s stock after selling 957 shares during the period. Amalgamated Bank’s holdings in ABM Industries were worth $973,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. purchased a new stake in shares of ABM Industries in the 2nd quarter worth about $125,118,000. LSV Asset Management grew its holdings in ABM Industries by 92.3% in the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after purchasing an additional 364,879 shares during the period. Bank of New York Mellon Corp increased its stake in shares of ABM Industries by 2.0% during the second quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock valued at $33,207,000 after purchasing an additional 13,126 shares in the last quarter. Pzena Investment Management LLC purchased a new position in shares of ABM Industries during the second quarter valued at approximately $21,032,000. Finally, SG Capital Management LLC bought a new stake in shares of ABM Industries in the 1st quarter worth approximately $13,730,000. Institutional investors own 91.62% of the company’s stock.

Insider Transactions at ABM Industries

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 1.04% of the company’s stock.

ABM Industries Trading Down 2.4 %

Shares of NYSE:ABM opened at $55.58 on Friday. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78. The stock’s fifty day moving average price is $52.98 and its 200-day moving average price is $51.58. The company has a market cap of $3.49 billion, a P/E ratio of 22.97 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.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm 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 business’s revenue for the quarter was up 3.3% on a year-over-year basis. Sell-side analysts expect that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were issued a dividend of $0.225 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 annualized dividend and a dividend yield of 1.62%. ABM Industries’s payout ratio is 37.19%.

Analyst Upgrades and Downgrades

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

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.