Point72 Asia Singapore Pte. Ltd. Has $410,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

Point72 Asia Singapore Pte. Ltd. cut its position in ABM Industries Incorporated (NYSE:ABM) by 48.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,112 shares of the business services provider’s stock after selling 7,596 shares during the period. Point72 Asia Singapore Pte. Ltd.’s holdings in ABM Industries were worth $410,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BOKF NA acquired a new position in ABM Industries in the second quarter valued at about $30,000. Adirondack Trust Co. lifted its position in shares of ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after purchasing an additional 500 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of ABM Industries by 2,102.0% during the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after purchasing an additional 1,030 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of ABM Industries by 37.5% during the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares in the last quarter. Finally, Clarity Asset Management Inc. acquired a new position in shares of ABM Industries during the fourth quarter worth approximately $54,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Trading Up 1.1 %

ABM opened at $50.80 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The company has a market cap of $3.19 billion, a price-to-earnings ratio of 13.30 and a beta of 1.14. The firm has a 50 day simple moving average of $53.56 and a 200 day simple moving average of $49.10. ABM Industries Incorporated has a fifty-two week low of $38.48 and a fifty-two week high of $59.78.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. ABM Industries’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.79 earnings per share. On average, sell-side analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is presently 23.56%.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dean A. Chin sold 2,042 shares of the stock in a transaction on Thursday, July 11th. The shares were sold at an average price of $50.70, for a total transaction of $103,529.40. Following the completion of the sale, the chief accounting officer now owns 18,493 shares of the company’s stock, valued at $937,595.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of the stock in a transaction on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,778 shares of company stock valued at $4,039,248. Corporate insiders own 1.04% of the company’s stock.

Analyst Ratings Changes

ABM has been the topic of a number of research reports. Truist Financial upped their target price on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Robert W. Baird upped their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. UBS Group upped their target price on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, StockNews.com lowered shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd.

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. It operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.