Daiwa Securities Group Inc. Acquires 439 Shares of ABM Industries Incorporated (NYSE:ABM)

Daiwa Securities Group Inc. increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 8.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,381 shares of the business services provider’s stock after buying an additional 439 shares during the quarter. Daiwa Securities Group Inc.’s holdings in ABM Industries were worth $241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ABM. Exchange Traded Concepts LLC bought a new stake in shares of ABM Industries during the 4th quarter worth $48,000. Quantbot Technologies LP bought a new stake in shares of ABM Industries during the 3rd quarter worth $151,000. Covestor Ltd lifted its position in shares of ABM Industries by 50.7% during the 3rd quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock worth $152,000 after buying an additional 1,275 shares during the last quarter. Violich Capital Management Inc. bought a new stake in shares of ABM Industries during the 4th quarter worth $206,000. Finally, Olympiad Research LP acquired a new position in ABM Industries in the 3rd quarter worth about $254,000. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 value 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 $896,543.08. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, COO Rene Jacobsen sold 5,563 shares of the company’s 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 sale, the chief operating officer now owns 111,677 shares in the company, valued at approximately $4,868,000.43. The sale was disclosed in a 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 dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

Shares of ABM opened at $44.04 on Friday. The stock has a market cap of $2.79 billion, a PE ratio of 11.26 and a beta of 1.16. The business has a 50-day simple moving average of $42.90 and a two-hundred day simple moving average of $42.45. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 12-month low of $37.61 and a 12-month high of $53.05.

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

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be paid a $0.225 dividend. The ex-dividend date of this dividend is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.04%. ABM Industries’s payout ratio is 23.02%.

Analysts Set New Price Targets

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

ABM Industries Profile

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.