Hussman Strategic Advisors Inc. Buys New Stake in ABM Industries Incorporated (NYSE:ABM)

Hussman Strategic Advisors Inc. acquired a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) during the first quarter, according to the company in its most recent filing with the SEC. The fund acquired 63,000 shares of the business services provider's stock, valued at approximately $2,984,000. ABM Industries makes up 0.7% of Hussman Strategic Advisors Inc.'s holdings, making the stock its 27th biggest holding. Hussman Strategic Advisors Inc. owned 0.10% of ABM Industries at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ABM. Sterling Capital Management LLC boosted its holdings in shares of ABM Industries by 834.9% in the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock valued at $104,000 after acquiring an additional 1,820 shares in the last quarter. Palouse Capital Management Inc. lifted its position in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider's stock valued at $143,000 after acquiring an additional 446 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in shares of ABM Industries in the 4th quarter valued at approximately $190,000. Bridgefront Capital LLC acquired a new position in ABM Industries in the 4th quarter valued at approximately $204,000. Finally, PharVision Advisers LLC acquired a new position in ABM Industries in the 4th quarter valued at approximately $213,000. Institutional investors and hedge funds own 91.62% of the company's stock.

ABM Industries Stock Down 0.1%

Shares of ABM Industries stock traded down $0.03 on Friday, hitting $48.40. The company had a trading volume of 29,457 shares, compared to its average volume of 506,702. ABM Industries Incorporated has a twelve month low of $40.85 and a twelve month high of $59.78. The stock has a 50-day moving average of $48.83 and a 200-day moving average of $49.65. The firm has a market capitalization of $3.01 billion, a P/E ratio of 39.09, a P/E/G ratio of 2.49 and a beta of 0.78. The company has a debt-to-equity ratio of 0.83, a current ratio of 1.55 and a quick ratio of 1.55.

ABM Industries (NYSE:ABM - Get Free Report) last released its earnings results on Friday, June 6th. The business services provider reported $0.86 earnings per share for the quarter, missing analysts' consensus estimates of $0.87 by ($0.01). The business had revenue of $2.11 billion during 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%. The firm's revenue for the quarter was up 4.6% on a year-over-year basis. During the same period last year, the business posted $0.87 EPS. Research analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, August 4th. Investors of record on Thursday, July 3rd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.19%. The ex-dividend date of this dividend is Thursday, July 3rd. ABM Industries's dividend payout ratio (DPR) is presently 85.48%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ABM. Robert W. Baird upgraded shares of 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. Wall Street Zen raised shares of ABM Industries from a "hold" rating to a "buy" rating in a report on Saturday, July 5th. UBS Group raised shares of ABM Industries from a "neutral" rating to a "buy" rating and increased their price target for the company from $50.00 to $54.00 in a report on Monday, June 9th. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a report on Monday, June 9th. Finally, Truist Financial raised shares of ABM Industries from a "hold" rating to a "buy" rating and raised their price objective for the stock from $55.00 to $58.00 in a report on Wednesday, July 2nd. Four investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $56.00.

Insider Activity at ABM Industries

In related news, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total transaction of $90,054.00. Following the sale, the executive vice president directly owned 47,425 shares of the company's stock, valued at approximately $2,372,672.75. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Thomas M. Gartland sold 3,711 shares of ABM Industries stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $45.52, for a total transaction of $168,924.72. Following the sale, the director directly owned 30,958 shares in the company, valued at $1,409,208.16. This trade represents a 10.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,335 shares of company stock valued at $3,730,745. Company insiders own 0.90% of the company's stock.

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.

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