ABM Industries Incorporated (NYSE:ABM) Holdings Cut by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC trimmed its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 9.3% during the third quarter, Holdings Channel reports. The firm owned 9,440 shares of the business services provider’s stock after selling 963 shares during the period. Mutual of America Capital Management LLC’s holdings in ABM Industries were worth $498,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in ABM. Pacer Advisors Inc. acquired a new stake in shares of ABM Industries in the 2nd quarter worth approximately $125,118,000. LSV Asset Management lifted its holdings in shares of ABM Industries by 92.3% in the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock valued at $38,449,000 after purchasing an additional 364,879 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of ABM Industries by 2.0% in the second quarter. Bank of New York Mellon Corp now owns 656,652 shares of the business services provider’s stock worth $33,207,000 after buying an additional 13,126 shares during the period. Pzena Investment Management LLC purchased a new position in shares of ABM Industries during the second quarter valued at $21,032,000. Finally, Principal Financial Group Inc. raised its position in ABM Industries by 4.9% during the third quarter. Principal Financial Group Inc. now owns 327,631 shares of the business services provider’s stock valued at $17,286,000 after buying an additional 15,438 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ABM has been the subject of a number of research reports. Truist Financial raised their price objective on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Robert W. Baird boosted 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 downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, UBS Group upped their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

Insider Activity

In related news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 1.04% of the stock is currently owned by company insiders.

ABM Industries Trading Up 0.3 %

Shares of ABM stock opened at $56.99 on Thursday. The firm’s fifty day simple moving average is $53.86 and its 200 day simple moving average is $52.31. The firm has a market capitalization of $3.58 billion, a P/E ratio of 23.47 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last announced 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 return on equity of 12.93% and a net margin of 1.89%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the business earned $0.79 EPS. ABM Industries’s revenue was up 3.3% compared to the same quarter last year. As a group, sell-side analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current year.

ABM Industries Announces Dividend

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