ABM Industries Incorporated (NYSE:ABM) Position Trimmed by Maryland State Retirement & Pension System

Maryland State Retirement & Pension System trimmed its stake in ABM Industries Incorporated (NYSE:ABM) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,817 shares of the business services provider’s stock after selling 547 shares during the quarter. Maryland State Retirement & Pension System’s holdings in ABM Industries were worth $1,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Fuller & Thaler Asset Management Inc. lifted its position in ABM Industries by 20.6% in the 3rd quarter. Fuller & Thaler Asset Management Inc. now owns 1,262,155 shares of the business services provider’s stock worth $50,499,000 after buying an additional 215,795 shares in the last quarter. Invesco Ltd. raised its holdings in shares of ABM Industries by 5.4% during the third quarter. Invesco Ltd. now owns 1,033,051 shares of the business services provider’s stock worth $41,332,000 after acquiring an additional 53,318 shares in the last quarter. Qube Research & Technologies Ltd boosted its position in ABM Industries by 82.6% during the third quarter. Qube Research & Technologies Ltd now owns 108,967 shares of the business services provider’s stock valued at $4,360,000 after purchasing an additional 49,293 shares during the last quarter. Illinois Municipal Retirement Fund purchased a new position in ABM Industries in the third quarter valued at about $1,528,000. Finally, Louisiana State Employees Retirement System acquired a new position in ABM Industries in the 4th quarter worth about $1,470,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Price Performance

NYSE ABM opened at $45.37 on Friday. The firm has a market cap of $2.87 billion, a P/E ratio of 11.60 and a beta of 1.14. The stock’s 50-day moving average is $43.67 and its two-hundred day moving average is $42.58. ABM Industries Incorporated has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.48 and a quick ratio of 1.48.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company earned $0.79 EPS. The company’s revenue for the quarter was up 3.9% on a year-over-year basis. On average, analysts anticipate that ABM Industries Incorporated will post 3.37 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Thursday, April 4th were given a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend was Wednesday, April 3rd. ABM Industries’s dividend payout ratio is 23.02%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. According to MarketBeat.com, ABM Industries has a consensus rating of “Hold” and an average price target of $45.20.

Insider Activity at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 5,465 shares of the firm’s stock in a transaction on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the completion of the transaction, the chief operating officer now owns 111,677 shares in the company, valued at approximately $4,868,000.43. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction dated Friday, March 22nd. The shares were sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Insiders sold a total of 23,643 shares of company stock worth $1,055,490 in the last 90 days. 1.04% of the stock is owned by company insiders.

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.