Rhumbline Advisers Buys 9,156 Shares of ABM Industries Incorporated (NYSE:ABM)

Rhumbline Advisers increased its position in shares of ABM Industries Incorporated (NYSE:ABM) by 4.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 221,847 shares of the business services provider’s stock after buying an additional 9,156 shares during the quarter. Rhumbline Advisers owned 0.34% of ABM Industries worth $9,970,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Amundi acquired a new stake in shares of ABM Industries during the 4th quarter worth approximately $36,000. Quadrant Capital Group LLC lifted its position in shares of ABM Industries by 129.1% during the 4th quarter. Quadrant Capital Group LLC now owns 914 shares of the business services provider’s stock worth $41,000 after buying an additional 515 shares during the period. First Horizon Advisors Inc. raised its position in ABM Industries by 34.2% in the 4th quarter. First Horizon Advisors Inc. now owns 1,275 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 325 shares during the last quarter. Assetmark Inc. increased its position in ABM Industries by 38.4% in the first quarter. Assetmark Inc. now owns 1,665 shares of the business services provider’s stock worth $75,000 after purchasing an additional 462 shares during the period. Finally, Tower Research Capital LLC TRC grew its position in shares of ABM Industries by 372.7% during the 1st quarter. Tower Research Capital LLC TRC now owns 2,099 shares of the business services provider’s stock worth $94,000 after buying an additional 1,655 shares during the period. 86.42% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ABM. UBS Group started coverage on shares of ABM Industries in a research note on Wednesday, May 31st. They issued a “neutral” rating and a $48.00 price objective on the stock. StockNews.com began coverage on ABM Industries in a research note on Thursday, August 17th. They set a “hold” rating for the company.

ABM Industries Price Performance

Shares of ABM stock opened at $45.81 on Monday. The company has a quick ratio of 1.53, a current ratio of 1.53 and a debt-to-equity ratio of 0.76. ABM Industries Incorporated has a 12-month low of $37.68 and a 12-month high of $49.58. The firm has a fifty day moving average of $44.26 and a 200-day moving average of $44.36. The firm has a market capitalization of $3.03 billion, a price-to-earnings ratio of 15.58 and a beta of 1.07.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Tuesday, June 6th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.04. ABM Industries had a return on equity of 13.63% and a net margin of 2.47%. The company had revenue of $1.98 billion during the quarter, compared to the consensus estimate of $2 billion. During the same period in the prior year, the company earned $0.89 earnings per share. The company’s revenue for the quarter was up 4.5% compared to the same quarter last year. On average, equities research analysts forecast that ABM Industries Incorporated will post 3.51 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 1.92%. The ex-dividend date of this dividend was Wednesday, July 5th. ABM Industries’s dividend payout ratio is 29.93%.

ABM Industries Company Profile

ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.