Kennondale Capital Management LLC Takes $588,000 Position in ABM Industries Incorporated (NYSE:ABM)

Kennondale Capital Management LLC bought a new stake in ABM Industries Incorporated (NYSE:ABM) in the 4th quarter, Holdings Channel.com reports. The fund bought 11,486 shares of the business services provider’s stock, valued at approximately $588,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in ABM. SBI Securities Co. Ltd. acquired a new stake in shares of ABM Industries in the 4th quarter valued at $33,000. Adirondack Trust Co. grew its stake in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares during the period. Smartleaf Asset Management LLC grew its stake in shares of ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after purchasing an additional 595 shares during the period. Quarry LP grew its stake in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the period. Finally, KBC Group NV grew its stake in shares of ABM Industries by 60.9% during the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after purchasing an additional 1,067 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at ABM Industries

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

ABM Industries Stock Up 2.2 %

Shares of ABM Industries stock opened at $47.80 on Tuesday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12 month low of $42.28 and a 12 month high of $59.78. The business has a fifty day simple moving average of $52.31 and a 200 day simple moving average of $53.24. The stock has a market cap 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 (NYSE:ABM) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. During the same period in the previous year, the firm earned $1.01 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. Research analysts predict that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a $0.265 dividend. The ex-dividend date of this dividend is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.22%. ABM Industries’s payout ratio is 84.13%.

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.