Van ECK Associates Corp Sells 10,124 Shares of ABM Industries Incorporated (NYSE:ABM)

Van ECK Associates Corp lessened its holdings in ABM Industries Incorporated (NYSE:ABM) by 15.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 57,461 shares of the business services provider’s stock after selling 10,124 shares during the quarter. Van ECK Associates Corp owned approximately 0.09% of ABM Industries worth $2,576,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in ABM Industries in the fourth quarter valued at approximately $25,000. Exchange Traded Concepts LLC acquired a new position in shares of ABM Industries in the 4th quarter valued at $48,000. Quantbot Technologies LP bought a new position in shares of ABM Industries in the 3rd quarter worth $151,000. Covestor Ltd grew its stake in shares of ABM Industries by 50.7% during the third quarter. Covestor Ltd now owns 3,788 shares of the business services provider’s stock worth $152,000 after purchasing an additional 1,275 shares during the period. Finally, Daiwa Securities Group Inc. grew its stake in shares of ABM Industries by 114.6% during the third quarter. Daiwa Securities Group Inc. now owns 4,942 shares of the business services provider’s stock worth $198,000 after purchasing an additional 2,639 shares during the period. Institutional investors own 91.62% of the company’s stock.

Insider Buying and Selling at ABM Industries

In other news, EVP Andrea R. Newborn sold 12,615 shares of the firm’s stock in a transaction dated Wednesday, May 1st. The shares were sold at an average price of $45.00, for a total transaction of $567,675.00. Following the completion of the sale, the executive vice president now owns 45,847 shares in the company, valued at approximately $2,063,115. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now owns 19,972 shares of the company’s stock, valued at $896,543.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Andrea R. Newborn sold 12,615 shares of ABM Industries stock in a transaction that occurred 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 sale, the executive vice president now directly owns 45,847 shares of the company’s stock, valued at $2,063,115. The disclosure for this sale can be found here. Insiders have sold a total of 23,643 shares of company stock worth $1,055,490 over the last ninety days. Insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

ABM stock opened at $44.25 on Wednesday. The stock has a 50-day moving average price of $43.52 and a two-hundred day moving average price of $42.54. The stock has a market cap of $2.80 billion, a PE ratio of 11.32 and a beta of 1.14. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 0.71. ABM Industries Incorporated has a 1 year low of $37.61 and a 1 year high of $53.05.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, March 7th. The business services provider reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The business had revenue of $2.07 billion for the quarter, compared to analyst estimates of $2.01 billion. During the same quarter last year, the firm earned $0.79 EPS. ABM Industries’s revenue for the quarter was up 3.9% compared to the same quarter last year. Equities analysts forecast that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 6th. Shareholders of record on Thursday, April 4th were given a dividend of $0.225 per share. The ex-dividend date was Wednesday, April 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 2.03%. ABM Industries’s dividend payout ratio (DPR) is 23.02%.

Analysts Set New Price Targets

Separately, StockNews.com cut ABM Industries from a “buy” rating to a “hold” rating in a report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $45.20.

ABM Industries 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.