Amalgamated Bank Sells 957 Shares of ABM Industries Incorporated (NYSE:ABM)

Amalgamated Bank reduced its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 4.9% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,442 shares of the business services provider’s stock after selling 957 shares during the period. Amalgamated Bank’s holdings in ABM Industries were worth $973,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ABM. Pacer Advisors Inc. purchased a new position in ABM Industries during the second quarter valued at approximately $125,118,000. LSV Asset Management increased its stake in shares of ABM Industries by 92.3% in the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after purchasing an additional 364,879 shares in the last quarter. Bank of New York Mellon Corp raised its position in shares of ABM Industries by 2.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock valued at $33,207,000 after purchasing an additional 13,126 shares during the period. Pzena Investment Management LLC purchased a new position in shares of ABM Industries during the 2nd quarter valued at $21,032,000. Finally, SG Capital Management LLC bought a new position in ABM Industries in the 1st quarter worth $13,730,000. 91.62% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

ABM has been the topic of a number of recent analyst reports. Truist Financial raised their price target on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Robert W. Baird increased their price objective on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a report on Monday, September 9th. Finally, UBS Group lifted their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

Insiders Place Their Bets

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Trading Down 2.4 %

Shares of ABM stock opened at $55.58 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $3.49 billion, a price-to-earnings ratio of 22.97 and a beta of 1.14. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The stock’s 50-day moving average price is $52.98 and its 200-day moving average price is $51.58.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.86 by $0.08. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. The company’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.79 EPS. Equities research analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were given a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 annualized dividend and a yield of 1.62%. ABM Industries’s dividend payout ratio (DPR) is currently 37.19%.

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.