Aristides Capital LLC Invests $221,000 in ABM Industries Incorporated $ABM

Aristides Capital LLC purchased a new stake in shares of ABM Industries Incorporated (NYSE:ABM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 4,682 shares of the business services provider’s stock, valued at approximately $221,000.

A number of other large investors have also added to or reduced their stakes in the stock. Invesco Ltd. boosted its stake in ABM Industries by 17.8% in the first quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock valued at $84,629,000 after acquiring an additional 269,410 shares during the last quarter. American Century Companies Inc. lifted its stake in ABM Industries by 1.5% in the second quarter. American Century Companies Inc. now owns 1,615,135 shares of the business services provider’s stock valued at $76,251,000 after purchasing an additional 24,638 shares during the last quarter. Geode Capital Management LLC grew its holdings in ABM Industries by 0.7% during the second quarter. Geode Capital Management LLC now owns 1,502,219 shares of the business services provider’s stock valued at $70,928,000 after purchasing an additional 10,182 shares during the period. LSV Asset Management increased its position in ABM Industries by 1.2% in the second quarter. LSV Asset Management now owns 1,402,702 shares of the business services provider’s stock worth $66,222,000 after buying an additional 16,530 shares during the last quarter. Finally, Pzena Investment Management LLC raised its stake in shares of ABM Industries by 13.5% in the second quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider’s stock valued at $45,508,000 after buying an additional 114,485 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE ABM opened at $43.03 on Friday. The stock’s 50-day simple moving average is $44.10 and its two-hundred day simple moving average is $46.77. ABM Industries Incorporated has a twelve month low of $40.00 and a twelve month high of $57.93. The firm has a market capitalization of $2.64 billion, a P/E ratio of 23.39 and a beta of 0.76. The company has a quick ratio of 1.49, a current ratio of 1.49 and a debt-to-equity ratio of 0.82.

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

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Thursday, October 2nd were issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend was Thursday, October 2nd. ABM Industries’s payout ratio is currently 57.61%.

ABM Industries declared that its board has initiated a share repurchase program on Friday, September 5th that permits the company to repurchase $150.00 million in shares. This repurchase authorization permits the business services provider to repurchase up to 5% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s management believes its shares are undervalued.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ABM shares. Weiss Ratings reiterated 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 report on Saturday, October 4th. Robert W. Baird restated a “neutral” rating and issued a $54.00 target price (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. UBS Group lifted their target price on ABM Industries from $54.00 to $55.00 and gave the company a “buy” rating in a report on Monday, September 8th. Finally, Baird R W cut ABM Industries from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 8th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $55.67.

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.