Strs Ohio Cuts Position in ABM Industries Incorporated (NYSE:ABM)

Strs Ohio cut its stake in ABM Industries Incorporated (NYSE:ABM) by 89.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,700 shares of the business services provider’s stock after selling 23,700 shares during the quarter. Strs Ohio’s holdings in ABM Industries were worth $121,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ABM. Raymond James & Associates increased its holdings in shares of ABM Industries by 4.2% in the 3rd quarter. Raymond James & Associates now owns 94,911 shares of the business services provider’s stock valued at $3,797,000 after acquiring an additional 3,797 shares during the period. New York State Teachers Retirement System increased its position in ABM Industries by 1.7% during the 3rd quarter. New York State Teachers Retirement System now owns 110,587 shares of the business services provider’s stock valued at $4,425,000 after buying an additional 1,889 shares in the last quarter. Verdence Capital Advisors LLC increased its position in ABM Industries by 4.5% during the 3rd quarter. Verdence Capital Advisors LLC now owns 7,811 shares of the business services provider’s stock valued at $313,000 after buying an additional 334 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in ABM Industries by 13.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,365 shares of the business services provider’s stock valued at $495,000 after buying an additional 1,422 shares in the last quarter. Finally, Inspire Investing LLC increased its position in ABM Industries by 3.9% during the 3rd quarter. Inspire Investing LLC now owns 7,692 shares of the business services provider’s stock valued at $308,000 after buying an additional 286 shares in the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com lowered 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. According to MarketBeat, ABM Industries presently has a consensus rating of “Hold” and a consensus price target of $45.20.

ABM Industries Stock Down 1.3 %

Shares of ABM stock opened at $43.68 on Wednesday. The stock’s 50-day simple moving average is $43.11 and its 200-day simple moving average is $42.45. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $2.76 billion, a PE ratio of 11.17 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05.

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 return on equity of 12.88% and a net margin of 3.15%. The company’s revenue was up 3.9% on a year-over-year basis. During the same period in the prior year, the company earned $0.79 earnings per share. Equities analysts expect that ABM Industries Incorporated will post 3.37 earnings per share for the current year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is presently 23.02%.

Insider Activity

In other news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now owns 19,972 shares in the company, valued at $896,543.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, COO Rene Jacobsen sold 5,563 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was sold at an average price of $43.59, for a total value of $242,491.17. Following the sale, the chief operating officer now owns 111,677 shares in the company, valued at $4,868,000.43. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the completion of the sale, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Corporate 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.