Arizona State Retirement System Trims Stock Position in ABM Industries Incorporated (NYSE:ABM)

Arizona State Retirement System cut its position in shares of ABM Industries Incorporated (NYSE:ABM) by 2.7% during the fourth quarter, Holdings Channel.com reports. The firm owned 18,320 shares of the business services provider’s stock after selling 513 shares during the quarter. Arizona State Retirement System’s holdings in ABM Industries were worth $821,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the company. Camelot Portfolios LLC acquired a new stake in shares of ABM Industries during the fourth quarter valued at about $383,000. Raymond James & Associates increased its position in shares of ABM Industries by 0.7% during the fourth quarter. Raymond James & Associates now owns 95,619 shares of the business services provider’s stock valued at $4,287,000 after acquiring an additional 708 shares during the last quarter. Creative Financial Designs Inc. ADV increased its position in shares of ABM Industries by 14.6% during the fourth quarter. Creative Financial Designs Inc. ADV now owns 12,998 shares of the business services provider’s stock valued at $583,000 after acquiring an additional 1,659 shares during the last quarter. Cornerstone Wealth Management LLC increased its position in shares of ABM Industries by 8.1% during the fourth quarter. Cornerstone Wealth Management LLC now owns 9,207 shares of the business services provider’s stock valued at $413,000 after acquiring an additional 688 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of ABM Industries during the fourth quarter valued at about $48,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at ABM Industries

In related news, CAO Dean A. Chin sold 5,465 shares of ABM Industries 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 completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at $896,543.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the sale, the chief operating officer now owns 111,677 shares in the company, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction on Friday, March 22nd. The shares were 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 owns 19,972 shares of the company’s stock, valued at approximately $896,543.08. The disclosure for this sale can be found here. Company insiders own 1.04% of the company’s stock.

Analysts Set New Price Targets

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

ABM Industries Trading Down 1.5 %

Shares of ABM stock opened at $43.63 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market capitalization of $2.76 billion, a P/E ratio of 11.16 and a beta of 1.16. The company has a 50 day moving average price of $42.45 and a 200 day moving average price of $42.30. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. The firm had revenue of $2.07 billion during the quarter, compared to analysts’ expectations of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The business’s quarterly revenue was up 3.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.79 earnings per share. Equities research analysts predict that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Investors 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 2.06%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is currently 23.02%.

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.