ABM Industries Incorporated (NYSE:ABM) Shares Purchased by First Hawaiian Bank

First Hawaiian Bank lifted its stake in ABM Industries Incorporated (NYSE:ABM) by 32.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,682 shares of the business services provider’s stock after purchasing an additional 2,614 shares during the period. First Hawaiian Bank’s holdings in ABM Industries were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ABM. TD Asset Management Inc acquired a new stake in shares of ABM Industries in the second quarter valued at about $496,000. Arizona State Retirement System lifted its stake in shares of ABM Industries by 2.6% in the second quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 442 shares during the period. Savant Capital LLC lifted its stake in shares of ABM Industries by 93.3% in the second quarter. Savant Capital LLC now owns 11,290 shares of the business services provider’s stock valued at $571,000 after purchasing an additional 5,450 shares during the period. Quest Partners LLC lifted its stake in shares of ABM Industries by 487.3% in the second quarter. Quest Partners LLC now owns 9,825 shares of the business services provider’s stock valued at $497,000 after purchasing an additional 8,152 shares during the period. Finally, Texas Permanent School Fund Corp lifted its stake in shares of ABM Industries by 5.2% in the second quarter. Texas Permanent School Fund Corp now owns 57,882 shares of the business services provider’s stock valued at $2,927,000 after purchasing an additional 2,867 shares during the period. Institutional investors and hedge funds own 91.62% of the company’s stock.

ABM Industries Stock Performance

Shares of ABM opened at $50.43 on Friday. 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 market cap of $3.14 billion, a P/E ratio of 20.84 and a beta of 1.16. The company has a 50-day moving average of $54.55 and a two-hundred day moving average of $53.42. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, December 18th. The business services provider reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.08 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.01 earnings per share. As a group, research analysts predict that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be given a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Thursday, January 2nd. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is currently 83.46%.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Earl Ray Ellis sold 40,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now owns 45,260 shares of the company’s stock, valued at $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 1.04% of the company’s stock.

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.