Paloma Partners Management Co Makes New Investment in ABM Industries Incorporated (NYSE:ABM)

Paloma Partners Management Co purchased a new stake in ABM Industries Incorporated (NYSE:ABM) during the first quarter, Holdings Channel reports. The fund purchased 7,663 shares of the business services provider’s stock, valued at approximately $342,000.

A number of other institutional investors and hedge funds have also made changes to their positions in ABM. BNP Paribas Financial Markets raised its position in ABM Industries by 136.5% in the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock valued at $3,529,000 after purchasing an additional 45,442 shares during the last quarter. Quadrature Capital Ltd raised its position in ABM Industries by 203.0% during the fourth quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock worth $1,703,000 after acquiring an additional 25,453 shares during the last quarter. Janney Montgomery Scott LLC acquired a new position in ABM Industries during the first quarter worth about $481,000. Seven Eight Capital LP acquired a new position in shares of ABM Industries in the fourth quarter valued at approximately $795,000. Finally, Olstein Capital Management L.P. raised its position in shares of ABM Industries by 18.3% in the first quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider’s stock valued at $12,938,000 after buying an additional 44,953 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Trading Up 0.1 %

ABM stock traded up $0.08 during mid-day trading on Monday, reaching $55.16. 344,172 shares of the stock traded hands, compared to its average volume of 593,069. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 0.67. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $56.02. The company has a market cap of $3.46 billion, a P/E ratio of 14.44 and a beta of 1.16. The stock’s fifty day moving average is $50.41 and its 200-day moving average is $45.56.

ABM Industries (NYSE:ABM) last posted its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The business had revenue of $2.02 billion during the quarter, compared to analyst estimates of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.90 earnings per share. As a group, sell-side analysts expect that ABM Industries Incorporated will post 3.46 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, August 5th. Shareholders of record on Friday, July 5th will be issued a dividend of $0.225 per share. The ex-dividend date is Friday, July 5th. This represents a $0.90 annualized dividend and a yield of 1.63%. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Analyst Upgrades and Downgrades

ABM has been the subject of a number of recent analyst reports. Robert W. Baird boosted their target price on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a report on Monday, June 10th. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, UBS Group boosted their price objective on shares of ABM Industries from $45.00 to $51.00 and gave the stock a “neutral” rating in a research note on Friday, June 7th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $48.80.

Insider Buying and Selling at ABM Industries

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction that occurred on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the transaction, the executive vice president now owns 45,847 shares in the company, valued at $2,063,115. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction 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 transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders have sold a total of 91,393 shares of company stock worth $4,606,923 over the last 90 days. Insiders own 1.04% of the company’s stock.

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.