Paloma Partners Management Co Purchases New Shares in ABM Industries Incorporated (NYSE:ABM)

Paloma Partners Management Co bought a new position in shares of ABM Industries Incorporated (NYSE:ABM) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 7,663 shares of the business services provider’s stock, valued at approximately $342,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC bought a new stake in shares of ABM Industries in the 4th quarter valued at about $25,000. SRS Capital Advisors Inc. lifted its stake in ABM Industries by 323.4% in the 4th quarter. SRS Capital Advisors Inc. now owns 669 shares of the business services provider’s stock valued at $30,000 after purchasing an additional 511 shares during the last quarter. Lazard Asset Management LLC lifted its stake in ABM Industries by 2,102.0% in the 1st quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock valued at $48,000 after purchasing an additional 1,030 shares during the last quarter. Clarity Asset Management Inc. bought a new position in ABM Industries in the 4th quarter valued at approximately $54,000. Finally, Quest Partners LLC bought a new position in shares of ABM Industries during the fourth quarter valued at $58,000. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Activity

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the firm’s stock in a transaction on Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction dated Wednesday, May 1st. The stock was sold at an average price of $45.00, for a total value of $567,675.00. Following the completion of the transaction, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Scott B. Salmirs sold 25,000 shares of ABM Industries stock in a transaction dated Wednesday, July 10th. The shares were sold at an average price of $48.90, for a total value of $1,222,500.00. Following the completion of the transaction, the chief executive officer now directly owns 378,391 shares of the company’s stock, valued at $18,503,319.90. The disclosure for this sale can be found here. Insiders have sold 91,393 shares of company stock worth $4,606,923 in the last quarter. Corporate insiders own 1.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ABM. Robert W. Baird raised their price target on shares of ABM Industries from $48.00 to $49.00 and gave the stock a “neutral” rating in a report on Monday, June 10th. StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th. Finally, UBS Group upped their price target on shares of ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.80.

ABM Industries Price Performance

NYSE:ABM traded up $0.08 during trading hours on Monday, hitting $55.16. 344,172 shares of the stock traded hands, compared to its average volume of 593,069. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $56.02. The company has a market cap of $3.46 billion, a price-to-earnings ratio of 14.44 and a beta of 1.16. The stock has a 50 day moving average price of $50.41 and a 200 day moving average price of $45.56.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The company had revenue of $2.02 billion for the quarter, compared to analysts’ expectations of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. ABM Industries’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.90 earnings per share. Sell-side analysts forecast that ABM Industries Incorporated will post 3.46 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Stockholders of record on Friday, July 5th will be given a dividend of $0.225 per share. The ex-dividend date is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.63%. ABM Industries’s dividend payout ratio (DPR) is 23.56%.

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.