ABM Industries Incorporated (NYSE:ABM) Position Cut by Creative Financial Designs Inc. ADV

Creative Financial Designs Inc. ADV trimmed its stake in ABM Industries Incorporated (NYSE:ABM) by 1.8% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 16,765 shares of the business services provider’s stock after selling 301 shares during the quarter. Creative Financial Designs Inc. ADV’s holdings in ABM Industries were worth $858,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its stake in ABM Industries by 0.5% in the third quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider’s stock valued at $76,582,000 after buying an additional 7,050 shares during the last quarter. Pzena Investment Management LLC lifted its stake in ABM Industries by 22.5% in the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider’s stock valued at $43,550,000 after buying an additional 156,450 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of ABM Industries by 1.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 693,325 shares of the business services provider’s stock valued at $35,484,000 after purchasing an additional 12,319 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of ABM Industries by 4.3% during the fourth quarter. Principal Financial Group Inc. now owns 341,616 shares of the business services provider’s stock valued at $17,484,000 after purchasing an additional 13,985 shares in the last quarter. Finally, Rhumbline Advisers raised its stake in shares of ABM Industries by 1.3% during the fourth quarter. Rhumbline Advisers now owns 198,756 shares of the business services provider’s stock valued at $10,172,000 after purchasing an additional 2,517 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value 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 $978,137.16. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Separately, UBS Group cut their price objective on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th.

ABM Industries Price Performance

Shares of NYSE ABM opened at $47.80 on Tuesday. ABM Industries Incorporated has a fifty-two week low of $42.28 and a fifty-two week high of $59.78. The firm’s 50-day simple moving average is $52.31 and its 200 day simple moving average is $53.24. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The stock has a market cap of $2.97 billion, a P/E ratio of 37.63, a P/E/G ratio of 2.75 and a beta of 1.13.

ABM Industries (NYSE:ABM) last released its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. ABM Industries’s revenue was up 4.0% compared to the same quarter last year. During the same period in the previous year, the company earned $1.01 earnings per share. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is currently 84.13%.

About ABM Industries

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.