Fuller & Thaler Asset Management Inc. Cuts Stock Position in ABM Industries Incorporated $ABM

Key Points

• Fuller & Thaler Asset Management Inc. has reduced its stake in ABM Industries by 0.8%, now owning approximately 1.94% of the company, which is valued at $57.29 million.
• Several hedge funds, including Principal Financial Group and Deutsche Bank AG, have increased their stakes in ABM Industries, indicating growing institutional interest.
• ABM Industries recently announced a quarterly dividend of $0.265, resulting in an annual yield of 2.2%, while its payout ratio stands at 85.48%.

Fuller & Thaler Asset Management Inc. reduced its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 0.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,209,605 shares of the business services provider's stock after selling 9,645 shares during the quarter. Fuller & Thaler Asset Management Inc. owned approximately 1.94% of ABM Industries worth $57,287,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of ABM. Summit Investment Advisors Inc. raised its stake in shares of ABM Industries by 5.2% in the fourth quarter. Summit Investment Advisors Inc. now owns 6,615 shares of the business services provider's stock valued at $339,000 after buying an additional 329 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of ABM Industries by 2.8% in the fourth quarter. Envestnet Asset Management Inc. now owns 12,801 shares of the business services provider's stock valued at $655,000 after buying an additional 347 shares during the period. HighTower Advisors LLC raised its stake in shares of ABM Industries by 1.8% in the first quarter. HighTower Advisors LLC now owns 20,398 shares of the business services provider's stock valued at $966,000 after buying an additional 362 shares during the period. Cetera Investment Advisers raised its stake in shares of ABM Industries by 6.3% in the first quarter. Cetera Investment Advisers now owns 7,264 shares of the business services provider's stock valued at $344,000 after buying an additional 430 shares during the period. Finally, Palouse Capital Management Inc. raised its stake in shares of ABM Industries by 17.4% in the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after buying an additional 446 shares during the period. 91.62% of the stock is currently owned by institutional investors.

Insider Activity

In related news, COO Rene Jacobsen sold 17,250 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the completion of the transaction, the chief operating officer directly owned 71,256 shares in the company, valued at $3,422,425.68. The trade was a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Thomas M. Gartland sold 3,711 shares of the business's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $45.52, for a total value of $168,924.72. Following the transaction, the director owned 30,958 shares of the company's stock, valued at approximately $1,409,208.16. The trade was a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is owned by insiders.

ABM Industries Stock Performance

Shares of NYSE ABM traded up $1.8160 during mid-day trading on Friday, hitting $49.6760. The company had a trading volume of 534,514 shares, compared to its average volume of 410,393. The company has a market capitalization of $3.09 billion, a price-to-earnings ratio of 40.06 and a beta of 0.80. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.83. The stock's 50-day moving average price is $47.22 and its 200-day moving average price is $48.76.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.01). The company had revenue of $2.11 billion during the quarter, compared to analysts' expectations of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. ABM Industries's revenue for the quarter was up 4.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.87 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. On average, sell-side analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, August 4th. Investors of record on Thursday, July 3rd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.1%. The ex-dividend date was Thursday, July 3rd. ABM Industries's payout ratio is presently 85.48%.

Analyst Upgrades and Downgrades

ABM has been the topic of several research reports. Wall Street Zen lowered ABM Industries from a "buy" rating to a "hold" rating in a research note on Saturday, July 26th. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and boosted their target price for the company from $50.00 to $54.00 in a research note on Monday, June 9th. Truist Financial upgraded ABM Industries from a "hold" rating to a "buy" rating and boosted their target price for the company from $55.00 to $58.00 in a research note on Wednesday, July 2nd. Baird R W upgraded ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Robert W. Baird upgraded ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 target price on the stock in a research note on Monday, June 9th. One equities research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $56.00.

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.