Hotchkis & Wiley Capital Management LLC Trims Stock Position in ABM Industries Incorporated (NYSE:ABM)

Hotchkis & Wiley Capital Management LLC lessened its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 168,960 shares of the business services provider’s stock after selling 78,620 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned about 0.27% of ABM Industries worth $8,914,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Edgestream Partners L.P. purchased a new stake in ABM Industries in the 3rd quarter valued at $1,931,000. Captrust Financial Advisors purchased a new stake in ABM Industries in the 3rd quarter valued at $412,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in ABM Industries by 0.9% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,535 shares of the business services provider’s stock valued at $7,837,000 after purchasing an additional 1,366 shares during the last quarter. Freedom Investment Management Inc. purchased a new stake in ABM Industries in the 3rd quarter valued at $246,000. Finally, FMR LLC raised its position in ABM Industries by 25.9% in the 3rd quarter. FMR LLC now owns 89,209 shares of the business services provider’s stock valued at $4,707,000 after purchasing an additional 18,339 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ABM. Robert W. Baird upped their price target on shares of ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. UBS Group boosted their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Truist Financial boosted 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.

Insider Transactions at ABM Industries

In other news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This represents a 46.92 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM opened at $57.07 on Thursday. 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 stock has a market capitalization of $3.58 billion, a P/E ratio of 23.58 and a beta of 1.14. The company’s fifty day moving average is $54.57 and its two-hundred day moving average is $52.72. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78.

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

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were paid a dividend of $0.225 per share. The ex-dividend date of this dividend was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.58%. ABM Industries’s dividend payout ratio (DPR) is presently 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.