Olympiad Research LP Grows Stock Position in ABM Industries Incorporated (NYSE:ABM)

Olympiad Research LP raised its holdings in ABM Industries Incorporated (NYSE:ABM) by 102.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,182 shares of the business services provider’s stock after acquiring an additional 4,133 shares during the period. Olympiad Research LP’s holdings in ABM Industries were worth $432,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in ABM Industries by 37.5% in the second quarter. GAMMA Investing LLC now owns 1,001 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 273 shares during the period. SummerHaven Investment Management LLC increased its position in shares of ABM Industries by 1.9% during the second quarter. SummerHaven Investment Management LLC now owns 17,623 shares of the business services provider’s stock valued at $891,000 after acquiring an additional 324 shares during the last quarter. Creative Financial Designs Inc. ADV raised its stake in shares of ABM Industries by 2.3% in the 3rd quarter. Creative Financial Designs Inc. ADV now owns 17,066 shares of the business services provider’s stock valued at $900,000 after acquiring an additional 378 shares during the period. Arizona State Retirement System boosted its position in shares of ABM Industries by 2.6% during the 2nd quarter. Arizona State Retirement System now owns 17,718 shares of the business services provider’s stock worth $896,000 after purchasing an additional 442 shares during the period. Finally, Adirondack Trust Co. increased its holdings in ABM Industries by 250.0% in the 2nd quarter. Adirondack Trust Co. now owns 700 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 500 shares during the last quarter. Institutional investors and hedge funds own 91.62% of the company’s stock.

Insider Activity

In other news, CFO Earl Ray Ellis sold 40,000 shares of the stock in a transaction dated Monday, October 14th. The shares were 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 in the company, valued at approximately $2,442,229.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.04% of the company’s stock.

ABM Industries Trading Up 4.9 %

NYSE:ABM opened at $57.17 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. ABM Industries Incorporated has a 1 year low of $39.27 and a 1 year high of $59.78. The stock has a market cap of $3.59 billion, a P/E ratio of 23.62 and a beta of 1.14. The stock has a 50-day simple moving average of $52.91 and a 200-day simple moving average of $51.09.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 6th. The business services provider reported $0.94 EPS for the quarter, beating the consensus estimate of $0.86 by $0.08. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.04 billion. ABM Industries had a net margin of 1.89% and a return on equity of 12.93%. The firm’s revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.79 earnings per share. As a group, analysts anticipate that ABM Industries Incorporated will post 3.53 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 4th. Stockholders of record on Thursday, October 3rd were issued a $0.225 dividend. This represents a $0.90 annualized dividend and a dividend yield of 1.57%. The ex-dividend date of this dividend was Thursday, October 3rd. ABM Industries’s payout ratio is currently 37.19%.

Wall Street Analyst Weigh In

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

ABM Industries Company 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.