ABM Industries Incorporated (NYSE:ABM) Shares Bought by Olstein Capital Management L.P.

Olstein Capital Management L.P. lifted its stake in shares of ABM Industries Incorporated (NYSE:ABM) by 18.3% during the 1st quarter, HoldingsChannel reports. The firm owned 289,953 shares of the business services provider’s stock after purchasing an additional 44,953 shares during the quarter. ABM Industries comprises 2.1% of Olstein Capital Management L.P.’s investment portfolio, making the stock its 3rd biggest position. Olstein Capital Management L.P.’s holdings in ABM Industries were worth $12,938,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. UBS Group AG increased its position in ABM Industries by 32.3% during the third quarter. UBS Group AG now owns 63,364 shares of the business services provider’s stock worth $2,535,000 after purchasing an additional 15,469 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of ABM Industries by 23.1% during the 3rd quarter. Envestnet Asset Management Inc. now owns 157,655 shares of the business services provider’s stock worth $6,308,000 after buying an additional 29,555 shares during the last quarter. Hsbc Holdings PLC lifted its holdings in ABM Industries by 4.8% in the third quarter. Hsbc Holdings PLC now owns 13,445 shares of the business services provider’s stock valued at $538,000 after acquiring an additional 616 shares during the last quarter. Northern Trust Corp grew its position in ABM Industries by 1.1% in the third quarter. Northern Trust Corp now owns 932,847 shares of the business services provider’s stock worth $37,323,000 after acquiring an additional 10,020 shares during the period. Finally, Trexquant Investment LP acquired a new stake in ABM Industries during the third quarter worth $512,000. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other ABM Industries news, EVP Andrea R. Newborn sold 12,615 shares of the stock in a transaction dated 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 owns 45,847 shares of the company’s stock, valued at approximately $2,063,115. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.04% of the stock is currently owned by insiders.

ABM Industries Trading Up 0.4 %

NYSE:ABM traded up $0.18 on Wednesday, reaching $50.43. 154,058 shares of the company’s stock were exchanged, compared to its average volume of 609,726. The firm has a market capitalization of $3.16 billion, a price-to-earnings ratio of 13.15 and a beta of 1.16. ABM Industries Incorporated has a 52-week low of $37.61 and a 52-week high of $53.05. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 0.67. The business has a fifty day moving average of $47.73 and a 200-day moving average of $44.51.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, June 6th. The business services provider reported $0.87 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.08. The firm had revenue of $2.02 billion for the quarter, compared to the consensus estimate of $2 billion. ABM Industries had a net margin of 3.04% and a return on equity of 12.52%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.90 EPS. As a group, analysts expect that ABM Industries Incorporated will post 3.47 earnings per share for the current year.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, August 5th. Investors of record on Friday, July 5th will be issued a $0.225 dividend. The ex-dividend date is Friday, July 5th. This represents a $0.90 dividend on an annualized basis and a yield of 1.78%. ABM Industries’s dividend payout ratio (DPR) is presently 23.56%.

Wall Street Analysts Forecast Growth

ABM has been the topic of several recent analyst reports. UBS Group upped their price target on ABM Industries from $45.00 to $51.00 and gave the company a “neutral” rating in a research note on Friday, June 7th. Robert W. Baird upped their target price on shares of ABM Industries from $48.00 to $49.00 and gave the company a “neutral” rating in a research report on Monday, June 10th. Finally, StockNews.com upgraded shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Wednesday, June 12th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.80.

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.