Simplicity Solutions LLC Has $3.53 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Simplicity Solutions LLC lessened its position in ABM Industries Incorporated (NYSE:ABM) by 3.7% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 78,720 shares of the business services provider’s stock after selling 3,005 shares during the period. Simplicity Solutions LLC owned approximately 0.13% of ABM Industries worth $3,529,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Amundi acquired a new stake in ABM Industries in the fourth quarter valued at approximately $36,000. Exchange Traded Concepts LLC purchased a new position in shares of ABM Industries during the fourth quarter valued at approximately $48,000. Point72 Asset Management L.P. purchased a new position in shares of ABM Industries during the second quarter valued at approximately $46,000. Quarry LP purchased a new position in shares of ABM Industries during the second quarter valued at approximately $64,000. Finally, Neo Ivy Capital Management purchased a new position in shares of ABM Industries during the second quarter valued at approximately $123,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $45.20.

ABM Industries Stock Performance

Shares of ABM opened at $43.57 on Friday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05. The firm has a market cap of $2.76 billion, a PE ratio of 11.14 and a beta of 1.16. The stock’s fifty day moving average price is $42.24 and its two-hundred day moving average price is $42.21.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping analysts’ consensus estimates of $0.72 by $0.14. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The company’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.79 EPS. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s payout ratio is currently 23.02%.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of the stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the completion of the sale, the chief operating officer now directly owns 111,677 shares in the company, valued at approximately $4,868,000.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by company insiders.

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.