Dimensional Fund Advisors LP Acquires 58,720 Shares of ABM Industries Inc. (ABM)
Dimensional Fund Advisors LP raised its stake in ABM Industries Inc. (NYSE:ABM) by 2.0% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,018,143 shares of the company’s stock after buying an additional 58,720 shares during the period. Dimensional Fund Advisors LP owned about 5.40% of ABM Industries worth $110,100,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of ABM. Bruderman Asset Management LLC raised its position in ABM Industries by 100.4% in the second quarter. Bruderman Asset Management LLC now owns 2,916 shares of the company’s stock valued at $106,000 after buying an additional 1,461 shares during the period. Quantbot Technologies LP raised its position in ABM Industries by 334.7% in the second quarter. Quantbot Technologies LP now owns 3,486 shares of the company’s stock valued at $127,000 after buying an additional 2,684 shares during the period. Acadian Asset Management LLC acquired a new position in ABM Industries during the second quarter valued at about $168,000. BlackRock Inc. raised its position in ABM Industries by 43.3% in the first quarter. BlackRock Inc. now owns 5,267 shares of the company’s stock valued at $170,000 after buying an additional 1,591 shares during the period. Finally, PNC Financial Services Group Inc. raised its position in ABM Industries by 21.6% in the second quarter. PNC Financial Services Group Inc. now owns 5,538 shares of the company’s stock valued at $202,000 after buying an additional 984 shares during the period. Hedge funds and other institutional investors own 90.28% of the company’s stock.
ABM Industries Inc. (NYSE:ABM) remained flat at $39.11 during trading on Monday. The company had a trading volume of 60,469 shares. The stock has a market cap of $2.18 billion, a P/E ratio of 25.30 and a beta of 0.78. ABM Industries Inc. has a 12 month low of $26.50 and a 12 month high of $40.47. The stock’s 50 day moving average price is $38.01 and its 200 day moving average price is $34.80.
ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, September 7th. The company reported $0.54 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.14. ABM Industries had a net margin of 1.73% and a return on equity of 10.15%. The company had revenue of $1.30 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business earned $0.47 earnings per share. ABM Industries’s quarterly revenue was down 3.8% on a year-over-year basis. Equities research analysts forecast that ABM Industries Inc. will post $1.73 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 7th. Stockholders of record on Thursday, October 6th will be given a dividend of $0.165 per share. The ex-dividend date is Tuesday, October 4th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.69%. ABM Industries’s payout ratio is 42.58%.
Several research analysts have issued reports on the stock. Imperial Capital lifted their price target on shares of ABM Industries from $33.00 to $38.00 and gave the stock a “hold” rating in a research report on Thursday, June 23rd. Zacks Investment Research upgraded shares of ABM Industries from a “hold” rating to a “buy” rating and set a $45.00 price objective on the stock in a research report on Friday, September 9th. Finally, Robert W. Baird reiterated an “outperform” rating and set a $40.00 price objective on shares of ABM Industries in a research report on Wednesday, August 31st. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of C$32.05.
In related news, Director Maryellen C. Herringer sold 1,854 shares of the stock in a transaction that occurred on Friday, July 8th. The shares were sold at an average price of C$36.83, for a total value of C$68,282.82. Following the transaction, the director now directly owns 156,777 shares in the company, valued at C$5,774,096.91. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Scott J. Giacobbe sold 1,300 shares of the stock in a transaction that occurred on Friday, September 2nd. The shares were sold at an average price of C$39.02, for a total transaction of C$50,726.00. Following the completion of the transaction, the insider now owns 34,183 shares in the company, valued at C$1,333,820.66. The disclosure for this sale can be found here. Insiders own 2.00% of the company’s stock.
About ABM Industries
ABM Industries Incorporated, formerly American Building Maintenance Industries, Inc, is a provider of end-to-end integrated facility solutions. The Company’s segments are Janitorial, Facility Services, Parking, Building & Energy Solutions, and Other. Its Janitorial segment provides a range of essential cleaning services, which include carpet cleaning and dusting, floor cleaning and finishing, window washing, and other building cleaning services.
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