CIBC Asset Management Inc Has $321,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

CIBC Asset Management Inc increased its position in shares of ABM Industries Incorporated (NYSE:ABM) by 4.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 6,274 shares of the business services provider’s stock after acquiring an additional 289 shares during the period. CIBC Asset Management Inc’s holdings in ABM Industries were worth $321,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Capital Performance Advisors LLP acquired a new position in shares of ABM Industries in the third quarter valued at approximately $30,000. Adirondack Trust Co. increased its position in ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 200 shares during the period. Quarry LP lifted its holdings in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the period. KBC Group NV grew its stake in shares of ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after purchasing an additional 1,067 shares during the last quarter. Finally, Pallas Capital Advisors LLC acquired a new stake in ABM Industries in the third quarter valued at $210,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Buying and Selling

In related news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at $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 is available at this link. Also, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. 1.04% of the stock is owned by company insiders.

Analysts Set New Price Targets

Separately, UBS Group lifted their target price on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a report on Thursday, December 19th.

ABM Industries Stock Performance

Shares of ABM opened at $52.69 on Monday. The firm’s fifty day simple moving average is $52.38 and its two-hundred day simple moving average is $53.58. ABM Industries Incorporated has a 12 month low of $39.83 and a 12 month high of $59.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. The stock has a market capitalization of $3.28 billion, a P/E ratio of 41.49, a price-to-earnings-growth ratio of 2.77 and a beta of 1.16.

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

ABM Industries Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Thursday, January 2nd were issued a $0.265 dividend. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend was Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 83.46%.

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.