American International Group Inc. Sells 1,134 Shares of ABM Industries Incorporated (NYSE:ABM)

American International Group Inc. trimmed its position in ABM Industries Incorporated (NYSE:ABM) by 2.4% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 46,243 shares of the business services provider’s stock after selling 1,134 shares during the period. American International Group Inc. owned about 0.07% of ABM Industries worth $1,695,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its stake in shares of ABM Industries by 1.1% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 26,803 shares of the business services provider’s stock valued at $973,000 after purchasing an additional 300 shares during the period. Mutual of America Capital Management LLC raised its position in shares of ABM Industries by 12.1% in the second quarter. Mutual of America Capital Management LLC now owns 3,239 shares of the business services provider’s stock valued at $118,000 after buying an additional 349 shares in the last quarter. New York State Teachers Retirement System raised its position in shares of ABM Industries by 0.3% in the second quarter. New York State Teachers Retirement System now owns 144,580 shares of the business services provider’s stock valued at $5,248,000 after buying an additional 500 shares in the last quarter. Harbor Investment Advisory LLC raised its position in ABM Industries by 106.1% during the third quarter. Harbor Investment Advisory LLC now owns 1,016 shares of the business services provider’s stock valued at $37,000 after purchasing an additional 523 shares in the last quarter. Finally, Alpha Windward LLC raised its position in ABM Industries by 5.7% during the third quarter. Alpha Windward LLC now owns 11,160 shares of the business services provider’s stock valued at $409,000 after purchasing an additional 600 shares in the last quarter. Hedge funds and other institutional investors own 84.10% of the company’s stock.

ABM opened at $38.25 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.50 and a quick ratio of 1.50. The company has a 50 day simple moving average of $36.61 and a two-hundred day simple moving average of $35.77. ABM Industries Incorporated has a 1-year low of $19.79 and a 1-year high of $41.32. The firm has a market cap of $2.55 billion, a P/E ratio of -424.95 and a beta of 1.28.

ABM Industries (NYSE:ABM) last announced its earnings results on Tuesday, September 8th. The business services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.33. ABM Industries had a negative net margin of 0.08% and a positive return on equity of 10.85%. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.47 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The business’s revenue for the quarter was down 15.4% on a year-over-year basis. Equities analysts anticipate that ABM Industries Incorporated will post 2.46 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Shareholders of record on Thursday, October 1st were given a dividend of $0.185 per share. This represents a $0.74 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date was Wednesday, September 30th. ABM Industries’s dividend payout ratio is presently 36.10%.

Several brokerages recently weighed in on ABM. ValuEngine cut shares of ABM Industries from a “hold” rating to a “sell” rating in a research note on Thursday, September 10th. Sidoti upgraded shares of ABM Industries from a “neutral” rating to a “buy” rating in a report on Thursday, September 17th. Finally, Zacks Investment Research lowered shares of ABM Industries from a “strong-buy” rating to a “hold” rating and set a $40.00 price objective for the company. in a research note on Tuesday, August 18th. One research analyst has rated the stock with a sell rating, three have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $40.00.

In other ABM Industries news, Director Linda Chavez sold 1,353 shares of ABM Industries stock in a transaction on Tuesday, October 13th. The shares were sold at an average price of $37.06, for a total transaction of $50,142.18. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Scott J. Giacobbe sold 700 shares of ABM Industries stock in a transaction on Tuesday, October 27th. The stock was sold at an average price of $36.00, for a total transaction of $25,200.00. The disclosure for this sale can be found here. Insiders have sold a total of 28,413 shares of company stock valued at $1,055,825 over the last three months. 0.34% of the stock is currently owned by insiders.

About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, and Technical Solutions segments. It provides janitorial, facilities engineering, parking, custodial, landscaping and ground, and mechanical and electrical services; and vehicle maintenance and other services to rental car providers.

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

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