New York State Teachers Retirement System Sells 514 Shares of ABM Industries Incorporated (NYSE:ABM)

New York State Teachers Retirement System trimmed its stake in ABM Industries Incorporated (NYSE:ABM) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 96,608 shares of the business services provider’s stock after selling 514 shares during the period. New York State Teachers Retirement System owned 0.16% of ABM Industries worth $4,944,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Savant Capital LLC boosted its stake in shares of ABM Industries by 1.7% in the fourth quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock worth $599,000 after buying an additional 191 shares during the last quarter. Adirondack Trust Co. boosted its position in shares of ABM Industries by 28.6% during the fourth 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. Naples Global Advisors LLC boosted its position in shares of ABM Industries by 2.3% during the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock worth $565,000 after buying an additional 253 shares during the period. Creative Financial Designs Inc. ADV raised its stake in shares of ABM Industries by 2.3% in the third quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after acquiring an additional 378 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of ABM Industries in the third quarter valued at $30,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Stock Up 1.3 %

Shares of ABM Industries stock opened at $53.08 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a fifty day moving average price of $52.44 and a 200 day moving average price of $53.56. The stock has a market cap of $3.30 billion, a price-to-earnings ratio of 41.79, a price-to-earnings-growth ratio of 2.74 and a beta of 1.16. ABM Industries Incorporated has a twelve month low of $39.80 and a twelve month high of $59.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings data 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 net margin of 0.97% and a return on equity of 12.48%. 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 prior year, the business earned $1.01 earnings per share. ABM Industries’s quarterly revenue was up 4.0% on a year-over-year basis. Equities research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.00%. The ex-dividend date was Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is presently 83.47%.

Insider Buying and Selling

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

Separately, UBS Group raised 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.

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.