ABM Industries Incorporated (NYSE:ABM) Shares Acquired by Adirondack Trust Co.

Adirondack Trust Co. boosted its stake in ABM Industries Incorporated (NYSE:ABM) by 28.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 900 shares of the business services provider’s stock after purchasing an additional 200 shares during the period. Adirondack Trust Co.’s holdings in ABM Industries were worth $46,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Foundry Partners LLC increased its holdings in shares of ABM Industries by 694.2% in the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock valued at $4,583,000 after purchasing an additional 75,930 shares during the period. Miracle Mile Advisors LLC acquired a new position in ABM Industries in the 4th quarter valued at $392,000. Citigroup Inc. raised its position in ABM Industries by 51.3% during the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock worth $5,329,000 after buying an additional 34,254 shares during the last quarter. Algert Global LLC lifted its stake in shares of ABM Industries by 50.8% in the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock worth $10,139,000 after acquiring an additional 67,560 shares during the period. Finally, Jane Street Group LLC boosted its holdings in shares of ABM Industries by 91.8% in the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after acquiring an additional 39,300 shares in the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, UBS Group raised their price objective on shares of ABM Industries from $55.00 to $56.00 and gave the company a “neutral” rating in a research report on Thursday, December 19th.

Insider Buying and Selling

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is currently owned by insiders.

ABM Industries Price Performance

ABM Industries stock opened at $52.92 on Thursday. The company has a market cap of $3.29 billion, a P/E ratio of 41.67, a price-to-earnings-growth ratio of 2.81 and a beta of 1.16. ABM Industries Incorporated has a one year low of $39.64 and a one year high of $59.78. The business has a fifty day moving average of $53.91 and a two-hundred day moving average of $53.59. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be paid a $0.265 dividend. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 83.47%.

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.