ABM Industries Incorporated (NYSE:ABM) Position Boosted by Olstein Capital Management L.P.

Olstein Capital Management L.P. grew its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 18.3% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 289,953 shares of the business services provider’s stock after buying an additional 44,953 shares during the period. ABM Industries accounts for 2.1% of Olstein Capital Management L.P.’s portfolio, making the stock its 3rd biggest holding. Olstein Capital Management L.P. owned 0.46% of ABM Industries worth $12,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Dimensional Fund Advisors LP lifted its holdings in ABM Industries by 1.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 4,687,476 shares of the business services provider’s stock valued at $210,141,000 after purchasing an additional 66,334 shares in the last quarter. Northern Trust Corp lifted its stake in shares of ABM Industries by 1.1% during the 3rd quarter. Northern Trust Corp now owns 932,847 shares of the business services provider’s stock valued at $37,323,000 after buying an additional 10,020 shares in the last quarter. Norges Bank bought a new position in ABM Industries in the 4th quarter worth $31,310,000. Charles Schwab Investment Management Inc. increased its stake in ABM Industries by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 634,363 shares of the business services provider’s stock worth $28,438,000 after buying an additional 22,665 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC raised its holdings in ABM Industries by 1.6% during the fourth quarter. Hotchkis & Wiley Capital Management LLC now owns 267,080 shares of the business services provider’s stock valued at $11,973,000 after acquiring an additional 4,300 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction on Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total value of $567,675.00. Following the sale, the executive vice president now owns 45,847 shares of the company’s stock, valued at $2,063,115. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com raised ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Robert W. Baird boosted their target price on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. Finally, UBS Group lifted their price target on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a report 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 has a consensus rating of “Hold” and an average price target of $48.80.

ABM Industries Price Performance

ABM traded up $0.18 during trading hours on Wednesday, hitting $50.43. The company’s stock had a trading volume of 154,058 shares, compared to its average volume of 609,726. The stock has a market cap of $3.16 billion, a price-to-earnings ratio of 13.15 and a beta of 1.16. The business’s 50-day moving average price is $47.73 and its 200-day moving average price is $44.51. 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 12 month low of $37.61 and a 12 month high of $53.05.

ABM Industries (NYSE:ABM) last posted its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The business’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. Sell-side analysts expect that ABM Industries Incorporated will post 3.47 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be issued a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Friday, July 5th. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

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.