ABM Industries Incorporated (NYSE:ABM) Shares Sold by TCTC Holdings LLC

TCTC Holdings LLC lowered its position in shares of ABM Industries Incorporated (NYSE:ABM) by 26.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,500 shares of the business services provider’s stock after selling 1,600 shares during the quarter. TCTC Holdings LLC’s holdings in ABM Industries were worth $230,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Foundry Partners LLC raised its holdings in shares of ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock valued at $4,583,000 after acquiring an additional 75,930 shares during the last quarter. Miracle Mile Advisors LLC purchased a new stake in shares of ABM Industries in the fourth quarter valued at approximately $392,000. Citigroup Inc. grew its position in shares of ABM Industries by 51.3% in the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after purchasing an additional 34,254 shares in the last quarter. Jane Street Group LLC grew its position in shares of ABM Industries by 91.8% in the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after purchasing an additional 39,300 shares in the last quarter. Finally, Intech Investment Management LLC grew its position in shares of ABM Industries by 138.3% in the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock valued at $1,362,000 after purchasing an additional 14,977 shares in the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Buying and Selling

In other news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, UBS Group dropped their price target on ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th.

ABM Industries Price Performance

ABM stock opened at $47.80 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The business has a 50 day simple moving average of $52.31 and a 200-day simple moving average of $53.24. The firm has a market capitalization of $2.97 billion, a PE ratio of 37.63, a price-to-earnings-growth ratio of 2.75 and a beta of 1.13. ABM Industries Incorporated has a 1 year low of $42.28 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. Equities research analysts anticipate that ABM Industries Incorporated will post 3.71 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 5th. Investors of record on Thursday, April 3rd will be given a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.22%. ABM Industries’s payout ratio is 84.13%.

ABM Industries 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.