ABM Industries Incorporated (NYSE:ABM) Holdings Trimmed by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 1.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 972,268 shares of the business services provider’s stock after selling 11,025 shares during the quarter. Bank of New York Mellon Corp owned 1.49% of ABM Industries worth $40,553,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ABM Industries by 9.5% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,629 shares of the business services provider’s stock valued at $109,000 after purchasing an additional 229 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in ABM Industries by 60.4% during the 2nd quarter. Riverhead Capital Management LLC now owns 3,528 shares of the business services provider’s stock valued at $146,000 after purchasing an additional 1,328 shares in the last quarter. Hillsdale Investment Management Inc. increased its holdings in ABM Industries by 12,666.7% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 3,830 shares of the business services provider’s stock valued at $159,000 after purchasing an additional 3,800 shares in the last quarter. Bruderman Asset Management LLC acquired a new stake in ABM Industries during the 2nd quarter valued at $164,000. Finally, D.A. Davidson & CO. acquired a new stake in ABM Industries during the 2nd quarter valued at $171,000. Institutional investors and hedge funds own 94.64% of the company’s stock.

ABM Industries Incorporated (NYSE ABM) traded down $0.16 during midday trading on Friday, hitting $37.72. The stock had a trading volume of 488,317 shares, compared to its average volume of 655,997. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.63 and a quick ratio of 1.52. ABM Industries Incorporated has a one year low of $36.61 and a one year high of $45.12. The firm has a market cap of $2,481.68, a PE ratio of 538.93 and a beta of 0.80.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 13th. The business services provider reported $0.37 EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.12). ABM Industries had a return on equity of 9.74% and a net margin of 0.07%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.49 billion. During the same period last year, the firm earned $0.51 earnings per share. The firm’s revenue for the quarter was up 13.3% on a year-over-year basis. equities research analysts forecast that ABM Industries Incorporated will post 1.77 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 5th. Investors of record on Thursday, January 4th will be paid a dividend of $0.175 per share. The ex-dividend date is Wednesday, January 3rd. This is a boost from ABM Industries’s previous quarterly dividend of $0.17. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.86%. ABM Industries’s payout ratio is 971.57%.

Several equities research analysts have recently commented on ABM shares. Zacks Investment Research raised ABM Industries from a “strong sell” rating to a “hold” rating in a research note on Tuesday, November 7th. KeyCorp raised ABM Industries from a “sector weight” rating to an “overweight” rating and set a $48.00 target price for the company in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $48.20.

In related news, SVP Dean A. Chin sold 880 shares of ABM Industries stock in a transaction on Wednesday, October 4th. The stock was sold at an average price of $42.90, for a total transaction of $37,752.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is owned by insiders.

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ABM Industries Company Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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