ABM Industries Incorporated (NYSE:ABM) is Olstein Capital Management L.P.’s 5th Largest Position

Olstein Capital Management L.P. lifted its position in ABM Industries Incorporated (NYSE:ABM) by 3.6% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 195,821 shares of the business services provider’s stock after buying an additional 6,821 shares during the period. ABM Industries makes up about 1.8% of Olstein Capital Management L.P.’s portfolio, making the stock its 5th largest position. Olstein Capital Management L.P. owned approximately 0.31% of ABM Industries worth $10,022,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Foundry Partners LLC grew its holdings in ABM Industries by 694.2% in the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after purchasing an additional 75,930 shares during the last quarter. Miracle Mile Advisors LLC purchased a new position in ABM Industries during the 4th quarter worth $392,000. Citigroup Inc. increased its position in ABM Industries by 51.3% during the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after buying an additional 34,254 shares in the last quarter. Algert Global LLC increased its position in ABM Industries by 50.8% during the 2nd quarter. Algert Global LLC now owns 200,497 shares of the business services provider’s stock valued at $10,139,000 after buying an additional 67,560 shares in the last quarter. Finally, Jane Street Group LLC raised its stake in ABM Industries by 91.8% in the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after buying an additional 39,300 shares during the last quarter. Institutional investors own 91.62% of the company’s stock.

ABM Industries Price Performance

NYSE ABM opened at $52.58 on Friday. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 41.40, a PEG ratio of 2.76 and a beta of 1.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The stock’s fifty day moving average price is $53.80 and its 200 day moving average price is $53.64. ABM Industries Incorporated has a 1 year low of $39.64 and a 1 year high of $59.78.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The business had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.08 billion. During the same period in the prior year, the company earned $1.01 earnings per share. The company’s revenue was up 4.0% on a year-over-year basis. As a group, equities research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be paid a $0.265 dividend. The ex-dividend date is Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.02%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s dividend payout ratio is presently 83.47%.

Insider Buying and Selling

In related news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction dated Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.04% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

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.