Rhumbline Advisers Reduces Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Rhumbline Advisers cut its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 5.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 187,109 shares of the business services provider's stock after selling 11,647 shares during the quarter. Rhumbline Advisers owned about 0.30% of ABM Industries worth $8,861,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in ABM. SBI Securities Co. Ltd. purchased a new position in shares of ABM Industries during the fourth quarter worth $33,000. Smartleaf Asset Management LLC boosted its stake in shares of ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after buying an additional 595 shares during the last quarter. Sterling Capital Management LLC grew its holdings in ABM Industries by 834.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after acquiring an additional 1,820 shares during the period. Raiffeisen Bank International AG purchased a new stake in ABM Industries in the 4th quarter worth approximately $190,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of ABM Industries during the 4th quarter worth approximately $204,000. Institutional investors own 91.62% of the company's stock.

ABM Industries Stock Up 0.1%

Shares of ABM traded up $0.05 during midday trading on Thursday, hitting $46.44. The company had a trading volume of 130,181 shares, compared to its average volume of 501,926. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78. The firm has a market capitalization of $2.89 billion, a P/E ratio of 36.57, a P/E/G ratio of 2.75 and a beta of 0.83. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The company's 50-day simple moving average is $49.03 and its 200-day simple moving average is $51.10.

ABM Industries (NYSE:ABM - Get Free Report) last issued its 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). ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the business posted $0.87 EPS. ABM Industries's revenue was up 4.6% on a year-over-year basis. As a group, sell-side analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, August 4th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.28%. The ex-dividend date is Thursday, July 3rd. ABM Industries's payout ratio is currently 85.48%.

Insider Activity at ABM Industries

In related news, CEO Scott B. Salmirs sold 800 shares of ABM Industries stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $52.09, for a total value of $41,672.00. Following the sale, the chief executive officer now directly owns 418,856 shares in the company, valued at $21,818,209.04. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Michael Mahoney sold 574 shares of the stock in a transaction on Monday, May 5th. The stock was sold at an average price of $50.06, for a total value of $28,734.44. Following the completion of the transaction, the executive vice president now owns 49,225 shares of the company's stock, valued at $2,464,203.50. The trade was a 1.15% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 52,374 shares of company stock worth $2,733,303 in the last quarter. Company insiders own 0.90% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. UBS Group upgraded ABM Industries from a "neutral" rating to a "buy" rating and increased their price target for the stock from $50.00 to $54.00 in a research report on Monday. Baird R W raised shares of ABM Industries from a "hold" rating to a "strong-buy" rating in a research note on Monday. Robert W. Baird upgraded shares of ABM Industries from a "neutral" rating to an "outperform" rating and set a $56.00 price objective for the company in a research report on Monday. Finally, Wall Street Zen lowered shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, May 31st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $55.00.

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.