Foundry Partners LLC Increases Holdings in ABM Industries Incorporated (NYSE:ABM)

Foundry Partners LLC increased its holdings in shares of ABM Industries Incorporated (NYSE:ABM) by 694.2% during the third quarter, HoldingsChannel reports. The firm owned 86,868 shares of the business services provider’s stock after buying an additional 75,930 shares during the period. Foundry Partners LLC’s holdings in ABM Industries were worth $4,583,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of ABM. BOKF NA purchased a new stake in ABM Industries during the second quarter valued at $30,000. Capital Performance Advisors LLP purchased a new stake in ABM Industries during the third quarter valued at $30,000. Adirondack Trust Co. increased its position in ABM Industries by 250.0% during the second quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after acquiring an additional 500 shares during the last quarter. Copeland Capital Management LLC purchased a new stake in ABM Industries during the third quarter valued at $37,000. Finally, Lazard Asset Management LLC increased its position in ABM Industries by 2,102.0% in the first quarter. Lazard Asset Management LLC now owns 1,079 shares of the business services provider’s stock worth $48,000 after buying an additional 1,030 shares in the last quarter. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Performance

NYSE:ABM opened at $56.43 on Friday. The stock has a 50-day moving average price of $53.39 and a 200 day moving average price of $51.93. ABM Industries Incorporated has a 12-month low of $39.64 and a 12-month high of $59.78. The stock has a market capitalization of $3.54 billion, a P/E ratio of 23.32 and a beta of 1.14. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71.

ABM Industries (NYSE:ABM) last posted its quarterly earnings data on Friday, September 6th. The business services provider reported $0.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.08. The business had revenue of $2.09 billion during 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%. The company’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period last year, the company earned $0.79 EPS. Equities research analysts forecast that ABM Industries Incorporated will post 3.53 EPS for the current fiscal year.

ABM Industries Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 4th. Investors of record on Thursday, October 3rd were paid a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a dividend yield of 1.59%. The ex-dividend date of this dividend was Thursday, October 3rd. ABM Industries’s dividend payout ratio is currently 37.19%.

Insider Buying and Selling

In other ABM Industries news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total transaction of $2,158,400.00. Following the completion of the sale, the chief financial officer now owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 1.04% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ABM. Robert W. Baird upped their price target on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a research report on Friday, August 2nd. Truist Financial upped their price target on ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. Finally, UBS Group increased their target price on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

About ABM Industries

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.