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

Adirondack Trust Co. increased its stake in ABM Industries Incorporated (NYSE:ABM) by 28.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 900 shares of the business services provider’s stock after acquiring an additional 200 shares during the period. Adirondack Trust Co.’s holdings in ABM Industries were worth $46,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Capital Performance Advisors LLP purchased a new stake in ABM Industries during the 3rd quarter worth about $30,000. Copeland Capital Management LLC purchased a new stake in shares of ABM Industries during the third quarter worth approximately $37,000. GAMMA Investing LLC raised its holdings in ABM Industries by 58.8% in the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 589 shares in the last quarter. Quarry LP lifted its stake in ABM Industries by 49.7% in the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after acquiring an additional 721 shares during the last quarter. Finally, Xponance Inc. acquired a new position in ABM Industries during the 2nd quarter worth approximately $204,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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 report on Thursday, December 19th.

Insiders Place Their Bets

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE ABM opened at $52.92 on Thursday. The stock’s 50-day simple moving average is $53.91 and its 200-day simple moving average is $53.59. The firm has a market capitalization of $3.29 billion, a PE ratio of 41.67, a price-to-earnings-growth ratio of 2.81 and a beta of 1.16. ABM Industries Incorporated has a fifty-two week low of $39.64 and a fifty-two week high of $59.78. 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 released its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a net margin of 0.97% and a return on equity of 12.48%. The firm’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $1.01 earnings per share. As a group, equities research analysts forecast that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Increases Dividend

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

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.