Monarch Partners Asset Management LLC reduced its position in shares of ABM Industries Inc. (NYSE:ABM) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 361,649 shares of the company’s stock after selling 14,503 shares during the period. ABM Industries accounts for approximately 1.3% of Monarch Partners Asset Management LLC’s investment portfolio, making the stock its 25th largest position. Monarch Partners Asset Management LLC’s holdings in ABM Industries were worth $13,193,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Creative Planning boosted its position in shares of ABM Industries by 3.7% in the second quarter. Creative Planning now owns 14,310 shares of the company’s stock worth $522,000 after buying an additional 510 shares in the last quarter. Baker Ellis Asset Management LLC boosted its position in shares of ABM Industries by 4.8% in the first quarter. Baker Ellis Asset Management LLC now owns 14,250 shares of the company’s stock worth $460,000 after buying an additional 650 shares in the last quarter. BlackRock Inc. boosted its position in shares of ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock worth $170,000 after buying an additional 1,591 shares in the last quarter. Prudential Financial Inc. boosted its position in shares of ABM Industries by 2.8% in the first quarter. Prudential Financial Inc. now owns 134,362 shares of the company’s stock worth $4,341,000 after buying an additional 3,600 shares in the last quarter. Finally, Acadian Asset Management LLC purchased a new position in shares of ABM Industries during the second quarter worth $168,000. Institutional investors and hedge funds own 90.56% of the company’s stock.
Shares of ABM Industries Inc. (NYSE:ABM) traded up 0.94% during mid-day trading on Friday, reaching $39.70. The company’s stock had a trading volume of 267,396 shares. The company has a market capitalization of $2.21 billion, a PE ratio of 25.68 and a beta of 0.78. The firm’s 50 day moving average is $38.72 and its 200-day moving average is $35.45. ABM Industries Inc. has a 52-week low of $26.50 and a 52-week high of $40.47.
ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, September 7th. The company reported $0.54 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.14. The business earned $1.30 billion during the quarter, compared to analyst estimates of $1.31 billion. ABM Industries had a return on equity of 10.15% and a net margin of 1.73%. The company’s revenue was down 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Analysts forecast that ABM Industries Inc. will post $1.73 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Tuesday, October 4th. ABM Industries’s dividend payout ratio (DPR) is presently 42.58%.
A number of analysts recently commented on ABM shares. Zacks Investment Research cut ABM Industries from a “buy” rating to a “sell” rating in a research report on Tuesday, August 9th. Robert W. Baird reiterated an “outperform” rating and set a $44.00 price objective on shares of ABM Industries in a research report on Saturday, September 10th. Finally, Imperial Capital lifted their price objective on ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, June 23rd. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company. ABM Industries has an average rating of “Buy” and a consensus target price of C$32.05.
In related news, insider Scott J. Giacobbe sold 1,300 shares of the company’s stock in a transaction on Friday, September 2nd. The stock was sold at an average price of C$39.02, for a total transaction of C$50,726.00. Following the transaction, the insider now directly owns 34,183 shares of the company’s stock, valued at C$1,333,820.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maryellen C. Herringer sold 1,854 shares of the company’s stock in a transaction on Friday, July 8th. The shares were sold at an average price of C$36.83, for a total value of C$68,282.82. Following the transaction, the director now directly owns 156,777 shares in the company, valued at C$5,774,096.91. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
ABM Industries Company Profile
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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