ABM Industries Incorporated (NYSE:ABM) Stock Holdings Cut by Gemmer Asset Management LLC

Gemmer Asset Management LLC lowered its stake in ABM Industries Incorporated (NYSE:ABM) by 0.1% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 470,587 shares of the business services provider’s stock after selling 447 shares during the period. ABM Industries accounts for approximately 2.4% of Gemmer Asset Management LLC’s holdings, making the stock its 13th biggest position. Gemmer Asset Management LLC’s holdings in ABM Industries were worth $24,085,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. DekaBank Deutsche Girozentrale purchased a new position in shares of ABM Industries during the second quarter valued at $155,000. Hsbc Holdings PLC grew its holdings in ABM Industries by 26.5% in the 2nd quarter. Hsbc Holdings PLC now owns 43,740 shares of the business services provider’s stock valued at $2,203,000 after buying an additional 9,161 shares during the last quarter. Seven Eight Capital LP acquired a new stake in ABM Industries in the 2nd quarter worth $614,000. XTX Topco Ltd raised its holdings in ABM Industries by 44.5% in the 2nd quarter. XTX Topco Ltd now owns 6,732 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 2,074 shares in the last quarter. Finally, Intech Investment Management LLC bought a new position in ABM Industries during the second quarter worth about $548,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Price Performance

ABM opened at $53.14 on Monday. The stock has a market capitalization of $3.31 billion, a P/E ratio of 41.84, a PEG ratio of 2.63 and a beta of 1.16. The stock has a 50-day moving average price of $54.17 and a 200-day moving average price of $53.54. 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.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business’s revenue was up 4.0% on a year-over-year basis. During the same period in the previous year, the firm posted $1.01 EPS. Equities analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Increases Dividend

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

Insider Transactions at ABM Industries

In related news, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now owns 18,681 shares of the company’s stock, valued at $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

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

About ABM Industries

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.