Strs Ohio Sells 23,700 Shares of ABM Industries Incorporated (NYSE:ABM)

Strs Ohio reduced its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 89.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,700 shares of the business services provider's stock after selling 23,700 shares during the period. Strs Ohio's holdings in ABM Industries were worth $121,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Fuller & Thaler Asset Management Inc. raised its holdings in shares of ABM Industries by 20.6% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 1,262,155 shares of the business services provider's stock valued at $50,499,000 after buying an additional 215,795 shares during the last quarter. Invesco Ltd. raised its holdings in ABM Industries by 5.4% during the third quarter. Invesco Ltd. now owns 1,033,051 shares of the business services provider's stock worth $41,332,000 after purchasing an additional 53,318 shares in the last quarter. Northern Trust Corp raised its holdings in ABM Industries by 1.1% during the third quarter. Northern Trust Corp now owns 932,847 shares of the business services provider's stock worth $37,323,000 after purchasing an additional 10,020 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in ABM Industries by 2.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 611,698 shares of the business services provider's stock worth $24,474,000 after purchasing an additional 15,976 shares in the last quarter. Finally, Goodman Financial Corp raised its holdings in ABM Industries by 2.4% during the third quarter. Goodman Financial Corp now owns 240,077 shares of the business services provider's stock worth $9,605,000 after purchasing an additional 5,552 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

ABM Industries Price Performance

ABM Industries stock traded up $1.08 during mid-day trading on Wednesday, hitting $44.79. The company's stock had a trading volume of 650,857 shares, compared to its average volume of 576,517. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The stock has a market capitalization of $2.83 billion, a P/E ratio of 11.45 and a beta of 1.16. ABM Industries Incorporated has a twelve month low of $37.61 and a twelve month high of $53.05. The stock's fifty day moving average price is $43.21 and its two-hundred day moving average price is $42.47.

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

ABM Industries Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 6th. Shareholders of record on Thursday, April 4th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend is Wednesday, April 3rd. ABM Industries's payout ratio is 23.02%.

Insiders Place Their Bets

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

Analysts Set New Price Targets

Separately, StockNews.com cut ABM Industries from a "buy" rating to a "hold" rating in a report on Saturday, February 3rd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average 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.