Bank of New York Mellon Corp Cuts Stock Position in ABM Industries Incorporated (NYSE:ABM)

Bank of New York Mellon Corp lessened its stake in ABM Industries Incorporated (NYSE:ABMGet Rating) by 1.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 887,919 shares of the business services provider’s stock after selling 13,878 shares during the quarter. Bank of New York Mellon Corp owned approximately 1.33% of ABM Industries worth $40,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ABM. Pinebridge Investments L.P. acquired a new stake in ABM Industries during the 4th quarter worth $45,000. KBC Group NV lifted its position in ABM Industries by 146.8% in the first quarter. KBC Group NV now owns 2,330 shares of the business services provider’s stock valued at $107,000 after buying an additional 1,386 shares during the last quarter. Barrow Hanley Mewhinney & Strauss LLC lifted its position in ABM Industries by 22.4% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,117 shares of the business services provider’s stock valued at $127,000 after buying an additional 570 shares during the last quarter. Nisa Investment Advisors LLC acquired a new position in ABM Industries in the first quarter valued at about $175,000. Finally, Osborne Partners Capital Management LLC acquired a new position in ABM Industries in the first quarter valued at about $203,000. Hedge funds and other institutional investors own 94.21% of the company’s stock.

ABM Industries Trading Down 0.2 %

NYSE:ABM opened at $44.86 on Wednesday. The stock has a fifty day moving average price of $44.65 and a two-hundred day moving average price of $45.44. The stock has a market capitalization of $3.00 billion, a price-to-earnings ratio of 21.11 and a beta of 1.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.18 and a current ratio of 1.18. ABM Industries Incorporated has a 1 year low of $38.08 and a 1 year high of $54.00.

ABM Industries (NYSE:ABMGet Rating) last released its quarterly earnings data on Wednesday, June 8th. The business services provider reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.05. ABM Industries had a return on equity of 14.99% and a net margin of 2.06%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.88 billion. During the same quarter in the prior year, the business posted $0.82 earnings per share. ABM Industries’s revenue was up 26.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that ABM Industries Incorporated will post 3.65 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, August 1st. Stockholders of record on Thursday, July 7th were given a $0.195 dividend. This represents a $0.78 dividend on an annualized basis and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, July 6th. ABM Industries’s dividend payout ratio is currently 36.62%.

Insider Activity

In other news, EVP Joshua H. Feinberg purchased 6,330 shares of the company’s stock in a transaction dated Monday, June 13th. The stock was acquired at an average price of $39.16 per share, for a total transaction of $247,882.80. Following the completion of the transaction, the executive vice president now directly owns 63,048 shares in the company, valued at approximately $2,468,959.68. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other ABM Industries news, CAO Dean A. Chin sold 1,209 shares of ABM Industries stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $48.00, for a total transaction of $58,032.00. Following the sale, the chief accounting officer now directly owns 23,515 shares in the company, valued at approximately $1,128,720. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Joshua H. Feinberg acquired 6,330 shares of ABM Industries stock in a transaction that occurred on Monday, June 13th. The shares were bought at an average price of $39.16 per share, with a total value of $247,882.80. Following the transaction, the executive vice president now directly owns 63,048 shares in the company, valued at $2,468,959.68. The disclosure for this purchase can be found here. Company insiders own 0.54% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the stock. Robert W. Baird boosted their price target on shares of ABM Industries from $50.00 to $53.00 and gave the stock an “outperform” rating in a research note on Friday, August 19th. StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Monday, June 13th. Finally, TheStreet upgraded shares of ABM Industries from a “c+” rating to a “b-” rating in a research note on Monday, August 15th. Two analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $57.67.

ABM Industries Profile

(Get Rating)

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Technology & Manufacturing, Education, Aviation, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

Recommended Stories

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.