Bank of New York Mellon Corp grew its stake in shares of ABM Industries, Inc. (NYSE:ABM) by 2.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 999,366 shares of the business services provider’s stock after buying an additional 27,098 shares during the period. Bank of New York Mellon Corp’s holdings in ABM Industries were worth $37,696,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its position in shares of ABM Industries by 0.4% during the third quarter. Dimensional Fund Advisors LP now owns 2,380,054 shares of the business services provider’s stock valued at $99,272,000 after buying an additional 10,556 shares during the last quarter. Vaughan Nelson Investment Management L.P. raised its position in shares of ABM Industries by 17.2% during the fourth quarter. Vaughan Nelson Investment Management L.P. now owns 1,448,550 shares of the business services provider’s stock valued at $54,639,000 after buying an additional 212,775 shares during the last quarter. Macquarie Group Ltd. raised its position in shares of ABM Industries by 24.8% during the third quarter. Macquarie Group Ltd. now owns 1,090,915 shares of the business services provider’s stock valued at $45,502,000 after buying an additional 216,458 shares during the last quarter. Dalton Greiner Hartman Maher & Co. raised its position in shares of ABM Industries by 62.7% during the fourth quarter. Dalton Greiner Hartman Maher & Co. now owns 798,509 shares of the business services provider’s stock valued at $30,120,000 after buying an additional 307,846 shares during the last quarter. Finally, Boston Partners raised its position in shares of ABM Industries by 6.5% during the fourth quarter. Boston Partners now owns 698,594 shares of the business services provider’s stock valued at $26,351,000 after buying an additional 42,631 shares during the last quarter. Hedge funds and other institutional investors own 98.51% of the company’s stock.
In related news, Director Linda Chavez sold 2,103 shares of the firm’s stock in a transaction on Friday, January 12th. The shares were sold at an average price of $38.89, for a total value of $81,785.67. Following the completion of the transaction, the director now directly owns 16,557 shares of the company’s stock, valued at $643,901.73. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 0.81% of the company’s stock.
ABM Industries (NYSE:ABM) last posted its earnings results on Tuesday, March 6th. The business services provider reported $0.26 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.02). ABM Industries had a net margin of 1.55% and a return on equity of 8.33%. The business had revenue of $1.59 billion during the quarter, compared to analysts’ expectations of $1.59 billion. During the same period last year, the business posted $0.38 earnings per share. The company’s revenue for the quarter was up 19.7% compared to the same quarter last year. research analysts predict that ABM Industries, Inc. will post 1.93 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, May 7th. Investors of record on Thursday, April 5th will be issued a $0.175 dividend. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Wednesday, April 4th. ABM Industries’s dividend payout ratio (DPR) is presently 58.33%.
ABM has been the topic of several recent analyst reports. Zacks Investment Research cut shares of ABM Industries from a “hold” rating to a “strong sell” rating in a research report on Friday, December 15th. TheStreet lowered shares of ABM Industries from a “b” rating to a “c+” rating in a report on Friday, December 29th. Finally, Robert W. Baird reissued an “outperform” rating and issued a $40.00 target price (up from $39.00) on shares of ABM Industries in a report on Thursday, March 8th. Four research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $45.75.
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ABM Industries Profile
ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.
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