ABM Industries Incorporated $ABM Shares Sold by Fuller & Thaler Asset Management Inc.

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. cut its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 0.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor 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 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Summit Securities Group LLC purchased a new position in shares of ABM Industries in the first quarter valued at approximately $38,000. Federated Hermes Inc. lifted its holdings in ABM Industries by 107.7% in the 1st quarter. Federated Hermes Inc. now owns 920 shares of the business services provider's stock valued at $44,000 after purchasing an additional 477 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in ABM Industries during the 1st quarter worth $45,000. Sterling Capital Management LLC boosted its stake in ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after purchasing an additional 1,820 shares during the last quarter. Finally, Palouse Capital Management Inc. grew its holdings in shares of ABM Industries by 17.4% during the first quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock worth $143,000 after buying an additional 446 shares in the last quarter. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Trading Up 3.8%

ABM traded up $1.8160 during trading hours on Friday, reaching $49.6760. The company's stock had a trading volume of 534,514 shares, compared to its average volume of 395,137. The stock has a market cap of $3.09 billion, a PE ratio of 40.06 and a beta of 0.80. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55. The business's 50-day moving average is $47.22 and its 200-day moving average is $48.82.

ABM Industries (NYSE:ABM - Get Free Report) last issued its quarterly earnings data on Friday, June 6th. The business services provider reported $0.86 EPS for the quarter, missing the consensus estimate of $0.87 by ($0.01). ABM Industries had a return on equity of 12.54% and a net margin of 0.93%.The company had revenue of $2.11 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the company posted $0.87 earnings per share. The business's revenue was up 4.6% compared to the same quarter last year. ABM Industries has set its FY 2025 guidance at 3.650-3.800 EPS. As a group, equities research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

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

Insider Buying and Selling

In other news, COO Rene Jacobsen sold 17,250 shares of the company's stock in a transaction on Monday, July 7th. The stock was sold at an average price of $48.03, for a total transaction of $828,517.50. Following the sale, the chief operating officer owned 71,256 shares of the company's stock, valued at approximately $3,422,425.68. This represents a 19.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Thomas M. Gartland sold 3,711 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $45.52, for a total value of $168,924.72. Following the completion of the sale, the director owned 30,958 shares in the company, 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. Insiders own 0.90% of the company's stock.

Analyst Ratings Changes

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