CIBC Asset Management Inc Buys Shares of 7,019 ABM Industries, Inc. (ABM)
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.
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.
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.
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