Russell Investments Group Ltd. Purchases 3,430 Shares of ABM Industries Incorporated (NYSE:ABM)

Russell Investments Group Ltd. lifted its position in ABM Industries Incorporated (NYSE:ABM – Get Rating) by 2.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 135,166 shares of the business services provider’s stock after acquiring an additional 3,430 shares during the quarter. Russell Investments Group Ltd.’s holdings in ABM Industries were worth $6,004,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Creative Planning grew its stake in shares of ABM Industries by 1.6% in the 2nd quarter. Creative Planning now owns 14,095 shares of the business services provider’s stock worth $612,000 after acquiring an additional 216 shares in the last quarter. SummerHaven Investment Management LLC grew its stake in shares of ABM Industries by 1.4% in the 4th quarter. SummerHaven Investment Management LLC now owns 18,142 shares of the business services provider’s stock worth $806,000 after acquiring an additional 247 shares in the last quarter. Assetmark Inc. grew its stake in shares of ABM Industries by 37.6% in the 3rd quarter. Assetmark Inc. now owns 1,309 shares of the business services provider’s stock worth $50,000 after acquiring an additional 358 shares in the last quarter. Inspire Investing LLC grew its stake in shares of ABM Industries by 7.4% in the 3rd quarter. Inspire Investing LLC now owns 6,447 shares of the business services provider’s stock worth $246,000 after acquiring an additional 443 shares in the last quarter. Finally, Bank of Montreal Can grew its stake in shares of ABM Industries by 2.2% in the 1st quarter. Bank of Montreal Can now owns 21,837 shares of the business services provider’s stock worth $1,000,000 after acquiring an additional 473 shares in the last quarter. Institutional investors own 92.15% of the company’s stock.

Insider Buying and Selling at ABM Industries

In other news, CEO Scott B. Salmirs sold 3,000 shares of the stock in a transaction dated Tuesday, March 21st. The shares were sold at an average price of $45.07, for a total value of $135,210.00. Following the sale, the chief executive officer now directly owns 371,743 shares of the company’s stock, valued at $16,754,457.01. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.85% of the company’s stock.

Analyst Upgrades and Downgrades

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A number of brokerages recently weighed in on ABM. Robert W. Baird downgraded shares of ABM Industries from an “outperform” rating to a “neutral” rating and cut their price target for the stock from $52.00 to $51.00 in a report on Thursday, March 9th. StockNews.com began coverage on shares of ABM Industries in a report on Thursday, March 16th. They issued a “hold” rating on the stock.

ABM Industries Price Performance

NYSE ABM opened at $43.51 on Tuesday. The company has a market cap of $2.88 billion, a PE ratio of 15.11 and a beta of 1.09. ABM Industries Incorporated has a 52 week low of $37.68 and a 52 week high of $50.47. The company has a quick ratio of 1.30, a current ratio of 1.30 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $43.56 and its two-hundred day simple moving average is $45.11.

ABM Industries (NYSE:ABM – Get Rating) last released its quarterly earnings data on Wednesday, March 8th. The business services provider reported $0.79 EPS for the quarter, beating the consensus estimate of $0.77 by $0.02. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.02 billion. ABM Industries had a net margin of 2.45% and a return on equity of 13.85%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.94 earnings per share. Research analysts predict that ABM Industries Incorporated will post 3.49 earnings per share for the current year.

ABM Industries Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 1st. Shareholders of record on Thursday, April 6th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.02%. The ex-dividend date was Wednesday, April 5th. ABM Industries’s dividend payout ratio (DPR) is presently 30.56%.

ABM Industries Profile

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ABM Industries, Inc engages in the provision of facility, infrastructure, and mobility solutions. It operates through the following segments: Business and Industry, Manufacturing and Distribution, Education, Aviation, and Technical Solutions. The Business and Industry segment encompasses janitorial, facilities engineering, and parking services for commercial real estate properties, sports and entertainment venues, and traditional hospitals and non-acute healthcare facilities.