ABM Industries Incorporated (NYSE:ABM) is Olstein Capital Management L.P.'s 7th Largest Position

Olstein Capital Management L.P. lowered its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 9.9% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 245,000 shares of the business services provider's stock after selling 27,000 shares during the period. ABM Industries accounts for about 1.9% of Olstein Capital Management L.P.'s holdings, making the stock its 7th largest holding. Olstein Capital Management L.P. owned 0.39% of ABM Industries worth $10,983,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. grew its holdings in shares of ABM Industries by 2.1% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 30,136 shares of the business services provider's stock worth $1,351,000 after acquiring an additional 627 shares during the period. Camelot Portfolios LLC bought a new stake in shares of ABM Industries in the fourth quarter worth $383,000. Raymond James & Associates grew its holdings in shares of ABM Industries by 0.7% in the fourth quarter. Raymond James & Associates now owns 95,619 shares of the business services provider's stock worth $4,287,000 after acquiring an additional 708 shares during the period. Creative Financial Designs Inc. ADV grew its holdings in shares of ABM Industries by 14.6% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 12,998 shares of the business services provider's stock worth $583,000 after acquiring an additional 1,659 shares during the period. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of ABM Industries by 8.1% in the fourth quarter. Cornerstone Wealth Management LLC now owns 9,207 shares of the business services provider's stock worth $413,000 after acquiring an additional 688 shares during the period. Institutional investors own 91.62% of the company's stock.

ABM Industries Stock Performance

NYSE:ABM traded up $0.03 during mid-day trading on Monday, hitting $44.18. 510,212 shares of the company traded hands, compared to its average volume of 587,402. The stock's fifty day moving average price is $42.07 and its 200-day moving average price is $42.11. ABM Industries Incorporated has a one year low of $37.61 and a one year high of $53.05. The firm has a market cap of $2.80 billion, a price-to-earnings ratio of 11.30 and a beta of 1.16. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM - Get Free Report) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 EPS for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same period in the previous year, the business earned $0.79 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. Research analysts anticipate that ABM Industries Incorporated will post 3.37 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be given a $0.225 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.04%. ABM Industries's payout ratio is 23.02%.

Insider Activity

In related news, CAO Dean A. Chin sold 5,465 shares of the business's stock in a transaction dated Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at $896,543.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the business's stock in a transaction that occurred on Monday, March 25th. The stock was sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares of the company's stock, valued at $4,868,000.43. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the sale, the chief accounting officer now directly owns 19,972 shares in the company, valued at $896,543.08. The disclosure for this sale can be found here. Company insiders own 1.04% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on ABM. StockNews.com lowered ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, February 3rd. Truist Financial boosted their price target on ABM Industries from $43.00 to $53.00 and gave the company a "hold" rating in a report on Thursday, December 14th. Six equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $45.20.

ABM Industries Company 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.