Chesapeake Capital Corp IL Purchases Shares of 12,181 ABM Industries Incorporated (NYSE:ABM)

Chesapeake Capital Corp IL purchased a new stake in ABM Industries Incorporated (NYSE:ABM) during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 12,181 shares of the business services provider’s stock, valued at approximately $626,000.

Several other institutional investors and hedge funds also recently modified their holdings of ABM. Janney Montgomery Scott LLC purchased a new position in shares of ABM Industries during the first quarter valued at approximately $481,000. SG Americas Securities LLC lifted its stake in shares of ABM Industries by 83.8% during the first quarter. SG Americas Securities LLC now owns 5,170 shares of the business services provider’s stock valued at $231,000 after buying an additional 2,357 shares during the period. State Board of Administration of Florida Retirement System lifted its stake in shares of ABM Industries by 21.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 22,982 shares of the business services provider’s stock valued at $1,033,000 after buying an additional 4,070 shares during the period. Mitsubishi UFJ Trust & Banking Corp purchased a new position in shares of ABM Industries during the first quarter valued at approximately $225,000. Finally, Hillsdale Investment Management Inc. purchased a new position in shares of ABM Industries during the first quarter valued at approximately $4,038,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on ABM shares. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Truist Financial upped their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th. Robert W. Baird increased their price target on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Finally, UBS Group increased their price target on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th.

Insider Transactions at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

ABM Industries stock opened at $55.01 on Friday. ABM Industries Incorporated has a 52-week low of $39.64 and a 52-week high of $59.78. The firm has a fifty day moving average of $53.05 and a 200-day moving average of $51.71. The firm has a market capitalization of $3.45 billion, a P/E ratio of 22.73 and a beta of 1.14. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last released its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.04 billion. During the same quarter in the prior year, the business earned $0.79 earnings per share. The business’s quarterly revenue was up 3.3% compared to the same quarter last year. As a group, analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were given a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, October 3rd. ABM Industries’s payout ratio is currently 37.19%.

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.