Mutual of America Capital Management LLC Has $377,000 Position in ABM Industries Incorporated $ABM

Mutual of America Capital Management LLC reduced its position in shares of ABM Industries Incorporated (NYSE:ABM) by 11.7% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,994 shares of the business services provider’s stock after selling 1,064 shares during the quarter. Mutual of America Capital Management LLC’s holdings in ABM Industries were worth $377,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in ABM Industries during the 1st quarter valued at $38,000. Federated Hermes Inc. raised its stake in ABM Industries by 107.7% during the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider’s stock valued at $44,000 after purchasing an additional 477 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of ABM Industries in the first quarter worth $45,000. Kiker Wealth Management LLC acquired a new position in shares of ABM Industries in the second quarter worth $61,000. Finally, Virtus Advisers LLC acquired a new position in shares of ABM Industries in the first quarter worth $64,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Down 0.3%

ABM stock opened at $45.31 on Wednesday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. ABM Industries Incorporated has a 52-week low of $40.85 and a 52-week high of $59.15. The company has a 50-day moving average of $46.41 and a two-hundred day moving average of $47.66. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 24.63 and a beta of 0.78.

ABM Industries (NYSE:ABM) last released its quarterly earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.95 by ($0.13). ABM Industries had a net margin of 1.34% and a return on equity of 12.12%. The firm had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. During the same quarter last year, the company earned $0.94 earnings per share. The firm’s revenue was up 6.2% on a year-over-year basis. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, equities research analysts anticipate that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries announced that its board has initiated a share buyback plan on Friday, September 5th that permits the company to buyback $150.00 million in shares. This buyback authorization permits the business services provider to purchase up to 5% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Thursday, October 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Thursday, October 2nd. ABM Industries’s dividend payout ratio is 57.61%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on ABM. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ABM Industries in a research note on Wednesday, October 8th. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Saturday, October 4th. UBS Group upped their price target on shares of ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Robert W. Baird reaffirmed a “neutral” rating and issued a $54.00 price target (down from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Finally, Truist Financial raised shares of ABM Industries from a “hold” rating to a “buy” rating and upped their price target for the stock from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $55.67.

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.