Hussman Strategic Advisors Inc. Makes New $2.98 Million Investment in ABM Industries Incorporated (NYSE:ABM)

Hussman Strategic Advisors Inc. acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 63,000 shares of the business services provider's stock, valued at approximately $2,984,000. ABM Industries makes up about 0.7% of Hussman Strategic Advisors Inc.'s investment portfolio, making the stock its 27th biggest position. Hussman Strategic Advisors Inc. owned about 0.10% of ABM Industries at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Principal Financial Group Inc. boosted its position in shares of ABM Industries by 1.7% during the 1st quarter. Principal Financial Group Inc. now owns 347,496 shares of the business services provider's stock worth $16,457,000 after purchasing an additional 5,880 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of ABM Industries by 12.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider's stock worth $289,000 after acquiring an additional 693 shares in the last quarter. Sei Investments Co. increased its position in shares of ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock worth $7,840,000 after acquiring an additional 116,827 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of ABM Industries by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider's stock worth $1,456,000 after acquiring an additional 910 shares in the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of ABM Industries by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock worth $2,155,000 after acquiring an additional 7,904 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Insider Transactions at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 37,065 shares of the firm's stock in a transaction dated Thursday, May 15th. The stock was sold at an average price of $52.37, for a total value of $1,941,094.05. Following the completion of the transaction, the chief executive officer owned 369,656 shares in the company, valued at $19,358,884.72. This trade represents a 9.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO Rene Jacobsen sold 17,250 shares of the firm's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $48.03, for a total value of $828,517.50. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,335 shares of company stock valued at $3,730,745. 0.90% of the stock is currently owned by insiders.

ABM Industries Stock Performance

ABM traded up $0.24 during trading on Monday, hitting $47.96. 39,738 shares of the company traded hands, compared to its average volume of 478,061. The firm has a market cap of $2.99 billion, a P/E ratio of 38.67, a price-to-earnings-growth ratio of 2.47 and a beta of 0.78. The stock's fifty day moving average is $48.77 and its 200 day moving average is $49.61. The company has a quick ratio of 1.55, a current ratio of 1.55 and a debt-to-equity ratio of 0.83. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.78.

ABM Industries (NYSE:ABM - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $2.07 billion. ABM Industries had a net margin of 0.93% and a return on equity of 12.54%. ABM Industries's quarterly revenue was up 4.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.87 EPS. As a group, equities analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries's dividend payout ratio is currently 85.48%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ABM shares. Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and boosted their target price for the stock from $55.00 to $58.00 in a research report on Wednesday, July 2nd. Robert W. Baird raised shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price target on the stock in a research report on Monday, June 9th. UBS Group upgraded shares of ABM Industries from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $50.00 to $54.00 in a report on Monday, June 9th. Baird R W upgraded shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday, June 9th. Finally, Wall Street Zen upgraded shares of ABM Industries from a "hold" rating to a "buy" rating in a research note on Saturday, July 5th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and a consensus 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.