Palouse Capital Management Inc. Has $201,000 Holdings in ABM Industries Incorporated (NYSE:ABM)

Palouse Capital Management Inc. decreased its holdings in ABM Industries Incorporated (NYSE:ABM) by 8.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,978 shares of the business services provider’s stock after selling 358 shares during the quarter. Palouse Capital Management Inc.’s holdings in ABM Industries were worth $201,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ABM. GAMMA Investing LLC raised its stake in shares of ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock worth $51,000 after purchasing an additional 273 shares during the last quarter. SummerHaven Investment Management LLC raised its position in ABM Industries by 1.9% in the 2nd quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after buying an additional 324 shares during the last quarter. Arizona State Retirement System lifted its stake in ABM Industries by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after acquiring an additional 442 shares in the last quarter. Adirondack Trust Co. boosted its holdings in ABM Industries by 250.0% during the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock worth $35,000 after acquiring an additional 500 shares during the last quarter. Finally, BOKF NA purchased a new position in ABM Industries during the 2nd quarter worth $30,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Price Performance

Shares of NYSE:ABM opened at $50.92 on Thursday. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78. The company’s fifty day moving average price is $53.64 and its 200-day moving average price is $48.77. The firm has a market capitalization of $3.20 billion, a price-to-earnings ratio of 13.33 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.44.

ABM Industries (NYSE:ABM) last posted its earnings results on Friday, September 6th. The business services provider reported $0.94 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 firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.04 billion. During the same period last year, the company posted $0.79 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be paid a dividend of $0.225 per share. The ex-dividend date of this dividend is Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.77%. ABM Industries’s dividend payout ratio is currently 23.56%.

Analyst Ratings Changes

ABM has been the topic of a number of recent analyst reports. UBS Group raised their price target on shares of ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Robert W. Baird lifted their target price on shares of ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com lowered ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Truist Financial lifted their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a report on Monday, September 9th.

Insider Transactions at ABM Industries

In related news, CEO Scott B. Salmirs sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, July 10th. The stock was sold at an average price of $48.90, for a total value of $1,222,500.00. Following the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Scott B. Salmirs sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total transaction of $1,222,500.00. Following the sale, the chief executive officer now owns 378,391 shares of the company’s stock, valued at approximately $18,503,319.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 2,042 shares of ABM Industries stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $50.70, for a total transaction of $103,529.40. Following the completion of the sale, the chief accounting officer now directly owns 18,493 shares of the company’s stock, valued at approximately $937,595.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,778 shares of company stock worth $4,039,248. Corporate insiders own 1.04% of the company’s stock.

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.