ABM Industries Incorporated (NYSE:ABM) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM) by 15.0% during the fourth quarter, Holdings Channel reports. The firm owned 57,461 shares of the business services provider’s stock after selling 10,124 shares during the quarter. Van ECK Associates Corp’s holdings in ABM Industries were worth $2,576,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of ABM. GAMMA Investing LLC acquired a new position in ABM Industries during the 4th quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new stake in shares of ABM Industries during the fourth quarter worth about $48,000. Quantbot Technologies LP acquired a new stake in shares of ABM Industries during the third quarter worth about $151,000. Covestor Ltd boosted its stake in shares of ABM Industries by 50.7% in the third quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock valued at $152,000 after purchasing an additional 1,275 shares during the period. Finally, Daiwa Securities Group Inc. grew its holdings in shares of ABM Industries by 114.6% in the third quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock valued at $198,000 after purchasing an additional 2,639 shares in the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Stock Down 0.8 %

Shares of NYSE:ABM opened at $44.25 on Wednesday. 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 fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a market cap of $2.80 billion, a price-to-earnings ratio of 11.32 and a beta of 1.14. The firm’s 50 day moving average price is $43.52 and its 200 day moving average price is $42.54.

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 business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period last year, the business earned $0.79 EPS. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.37 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Stockholders of record on Thursday, April 4th were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend was Wednesday, April 3rd. ABM Industries’s payout ratio is currently 23.02%.

Analyst Ratings Changes

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 investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, ABM Industries currently has a consensus rating of “Hold” and an average target price of $45.20.

Insider Transactions at ABM Industries

In related news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, COO Rene Jacobsen sold 5,563 shares of the firm’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 document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the business’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at $896,543.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 23,643 shares of company stock worth $1,055,490. Insiders own 1.04% of the company’s stock.

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.