Van ECK Associates Corp Has $3.17 Million Holdings in ABM Industries Incorporated (NYSE:ABM)

Van ECK Associates Corp decreased its holdings in ABM Industries Incorporated (NYSE:ABM) by 3.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,359 shares of the business services provider’s stock after selling 1,974 shares during the period. Van ECK Associates Corp owned about 0.09% of ABM Industries worth $3,167,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in ABM. GAMMA Investing LLC raised its stake in ABM Industries by 37.5% in the 2nd quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 273 shares during the period. SummerHaven Investment Management LLC raised its position in shares of ABM Industries by 1.9% in the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after purchasing an additional 324 shares during the period. Creative Financial Designs Inc. ADV lifted its stake in shares of ABM Industries by 2.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock worth $900,000 after buying an additional 378 shares during the last quarter. Arizona State Retirement System boosted its holdings in shares of ABM Industries by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock worth $896,000 after buying an additional 442 shares during the period. Finally, Adirondack Trust Co. grew its stake in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after buying an additional 500 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the sale, the chief financial officer now directly owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 1.04% of the company’s stock.

ABM Industries Trading Up 1.4 %

Shares of ABM stock opened at $57.73 on Friday. The stock has a market cap of $3.62 billion, a P/E ratio of 23.86 and a beta of 1.14. ABM Industries Incorporated has a 1 year low of $39.27 and a 1 year high of $59.78. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The stock has a 50 day simple moving average of $52.93 and a 200 day simple moving average of $51.27.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.86 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a return on equity of 12.93% and a net margin of 1.89%. ABM Industries’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 EPS. On average, research analysts predict that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were paid a $0.225 dividend. This represents a $0.90 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend was Thursday, October 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 37.19%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. StockNews.com downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Robert W. Baird boosted their price target on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Truist Financial upped their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a report on Monday, September 9th. Finally, UBS Group lifted their target price on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th.

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.