ABM Industries Incorporated (NYSE:ABM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC reduced its position in ABM Industries Incorporated (NYSE:ABM) by 9.3% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 9,440 shares of the business services provider’s stock after selling 963 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ABM Industries were worth $498,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC increased its position in shares of ABM Industries by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares during the last quarter. SummerHaven Investment Management LLC grew its stake in shares of ABM Industries by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock worth $891,000 after purchasing an additional 324 shares in the last quarter. Creative Financial Designs Inc. ADV raised its position in shares of ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after acquiring an additional 378 shares in the last quarter. Arizona State Retirement System increased its stake in ABM Industries by 2.6% in the second quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 442 shares during the last quarter. Finally, Adirondack Trust Co. raised its holdings in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after purchasing an additional 500 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Performance

Shares of ABM opened at $56.99 on Thursday. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a 50-day simple moving average of $53.86 and a 200-day simple moving average of $52.31. The company has a market capitalization of $3.58 billion, a PE ratio of 23.47 and a beta of 1.14.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (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 business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same quarter in the previous year, the company posted $0.79 EPS. The business’s revenue was up 3.3% on a year-over-year basis. Equities research analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

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 dividend on an annualized basis and a dividend yield of 1.58%. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Insider Activity

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 1.04% of the company’s stock.

Wall Street Analysts Forecast Growth

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

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.