Olstein Capital Management L.P. Decreases Holdings in ABM Industries Incorporated (NYSE:ABM)

Olstein Capital Management L.P. reduced its holdings in ABM Industries Incorporated (NYSE:ABM) by 34.8% during the third quarter, Holdings Channel.com reports. The fund owned 189,000 shares of the business services provider’s stock after selling 100,953 shares during the quarter. ABM Industries accounts for 1.7% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 10th largest holding. Olstein Capital Management L.P.’s holdings in ABM Industries were worth $9,972,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the business. Olympiad Research LP increased its stake in ABM Industries by 102.1% in the 3rd quarter. Olympiad Research LP now owns 8,182 shares of the business services provider’s stock worth $432,000 after acquiring an additional 4,133 shares during the last quarter. Principal Financial Group Inc. increased its position in shares of ABM Industries by 4.9% during the 3rd quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after purchasing an additional 15,438 shares during the last quarter. Janney Montgomery Scott LLC increased its position in shares of ABM Industries by 169.3% during the 3rd quarter. Janney Montgomery Scott LLC now owns 31,240 shares of the business services provider’s stock valued at $1,648,000 after purchasing an additional 19,639 shares during the last quarter. Farther Finance Advisors LLC increased its position in shares of ABM Industries by 14.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 6,781 shares of the business services provider’s stock valued at $358,000 after purchasing an additional 838 shares during the last quarter. Finally, Creative Financial Designs Inc. ADV increased its position in shares of ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after purchasing an additional 378 shares during the last quarter. 91.62% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.04% of the stock is owned by corporate insiders.

ABM Industries Trading Down 0.0 %

ABM traded down $0.02 on Thursday, hitting $57.17. 8,166 shares of the company were exchanged, compared to its average volume of 558,062. ABM Industries Incorporated has a 12 month low of $39.27 and a 12 month high of $59.78. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The firm has a fifty day simple moving average of $52.91 and a two-hundred day simple moving average of $51.09. The stock has a market capitalization of $3.59 billion, a PE ratio of 23.62 and a beta of 1.14.

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

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were paid a $0.225 dividend. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.57%. The ex-dividend date was Thursday, October 3rd. ABM Industries’s payout ratio is presently 37.19%.

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.