Wilmington Savings Fund Society FSB Sells 5,353 Shares of ABM Industries Incorporated (NYSE:ABM)

Wilmington Savings Fund Society FSB lessened its stake in ABM Industries Incorporated (NYSE:ABM) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 129,824 shares of the business services provider’s stock after selling 5,353 shares during the period. Wilmington Savings Fund Society FSB’s holdings in ABM Industries were worth $6,644,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ABM. Capital Performance Advisors LLP purchased a new position in ABM Industries in the third quarter worth about $30,000. Copeland Capital Management LLC purchased a new position in shares of ABM Industries in the third quarter worth approximately $37,000. Adirondack Trust Co. grew its position in ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after buying an additional 200 shares during the period. GAMMA Investing LLC increased its holdings in ABM Industries by 58.8% during the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after buying an additional 589 shares during the last quarter. Finally, Quarry LP raised its position in ABM Industries by 49.7% in the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after acquiring an additional 721 shares during the period. Institutional investors own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

Separately, UBS Group upped their price objective on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th.

ABM Industries Price Performance

NYSE ABM opened at $53.27 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12 month low of $39.64 and a 12 month high of $59.78. The stock has a market cap of $3.31 billion, a price-to-earnings ratio of 41.95, a PEG ratio of 2.78 and a beta of 1.16. The company’s 50 day moving average is $53.22 and its two-hundred day moving average is $53.69.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping 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 business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.08 billion. During the same quarter in the prior year, the business posted $1.01 EPS. ABM Industries’s revenue for the quarter was up 4.0% compared to the same quarter last year. As a group, research analysts anticipate that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 1.99%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend was Thursday, January 2nd. ABM Industries’s dividend payout ratio is presently 83.47%.

Insider Buying and Selling at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction on Tuesday, January 14th. The shares were 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 owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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.