CIBC Asset Management Inc bought a new position in ABM Industries, Inc. (NYSE:ABM) in the 4th quarter, HoldingsChannel.com reports. The institutional investor bought 7,019 shares of the business services provider’s stock, valued at approximately $265,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Lee Thomas H Partners LP bought a new position in ABM Industries in the 3rd quarter worth about $188,691,000. Dimensional Fund Advisors LP boosted its stake in ABM Industries by 0.4% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,380,054 shares of the business services provider’s stock worth $99,272,000 after purchasing an additional 10,556 shares during the period. Channing Capital Management LLC boosted its stake in ABM Industries by 4.8% in the 3rd quarter. Channing Capital Management LLC now owns 1,463,858 shares of the business services provider’s stock worth $61,058,000 after purchasing an additional 66,957 shares during the period. Vaughan Nelson Investment Management L.P. boosted its stake in ABM Industries by 17.2% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 1,448,550 shares of the business services provider’s stock worth $54,639,000 after purchasing an additional 212,775 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in ABM Industries by 24.8% in the 3rd quarter. Macquarie Group Ltd. now owns 1,090,915 shares of the business services provider’s stock worth $45,502,000 after purchasing an additional 216,458 shares during the period. Institutional investors and hedge funds own 95.02% of the company’s stock.

Several research analysts have commented on the company. TheStreet downgraded ABM Industries from a “b” rating to a “c+” rating in a research note on Friday, December 29th. Zacks Investment Research upgraded ABM Industries from a “strong sell” rating to a “hold” rating in a research report on Tuesday, November 7th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. ABM Industries currently has an average rating of “Buy” and a consensus target price of $47.50.

Shares of ABM Industries, Inc. (NYSE:ABM) opened at $36.32 on Thursday. The stock has a market capitalization of $2,313.63, a PE ratio of 518.93 and a beta of 0.73. The company has a current ratio of 1.63, a quick ratio of 1.63 and a debt-to-equity ratio of 0.84. ABM Industries, Inc. has a 12-month low of $33.70 and a 12-month high of $45.12.

ABM Industries (NYSE:ABM) last issued its quarterly earnings results on Wednesday, December 13th. The business services provider reported $0.37 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.49 by ($0.12). The business had revenue of $1.50 billion for the quarter, compared to the consensus estimate of $1.49 billion. ABM Industries had a net margin of 0.07% and a return on equity of 9.74%. The business’s revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.51 EPS. sell-side analysts forecast that ABM Industries, Inc. will post 2.1 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, February 5th. Stockholders of record on Thursday, January 4th were given a dividend of $0.175 per share. This represents a $0.70 dividend on an annualized basis and a dividend yield of 1.93%. The ex-dividend date was Wednesday, January 3rd. This is an increase from ABM Industries’s previous quarterly dividend of $0.17. ABM Industries’s dividend payout ratio (DPR) is 1,000.14%.

In other news, Director Linda Chavez sold 2,103 shares of ABM Industries stock in a transaction dated Friday, January 12th. The stock was sold at an average price of $38.89, for a total transaction of $81,785.67. Following the completion of the sale, the director now owns 16,557 shares in the company, valued at approximately $643,901.73. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 1.30% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This news story was originally reported by TheOlympiaReport and is the property of of TheOlympiaReport. If you are reading this news story on another website, it was illegally stolen and republished in violation of U.S. and international copyright and trademark legislation. The correct version of this news story can be read at https://theolympiareport.com/2018/02/15/cibc-asset-management-inc-buys-shares-of-7019-abm-industries-inc-abm.html.

About ABM Industries

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

Want to see what other hedge funds are holding ABM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ABM Industries, Inc. (NYSE:ABM).

Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

Receive News & Ratings for ABM Industries Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ABM Industries and related companies with MarketBeat.com's FREE daily email newsletter.