EMC Capital Management Takes Position in ABM Industries Incorporated $ABM

EMC Capital Management bought a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, HoldingsChannel reports. The firm bought 4,732 shares of the business services provider’s stock, valued at approximately $223,000.

Several other hedge funds also recently added to or reduced their stakes in the business. SG Capital Management LLC acquired a new stake in ABM Industries in the second quarter worth about $29,064,000. Boston Partners raised its position in shares of ABM Industries by 2,129.6% in the 1st quarter. Boston Partners now owns 641,351 shares of the business services provider’s stock valued at $30,367,000 after purchasing an additional 612,586 shares during the last quarter. LSV Asset Management boosted its stake in ABM Industries by 66.4% in the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider’s stock worth $65,649,000 after purchasing an additional 553,225 shares in the last quarter. Nuveen LLC purchased a new stake in ABM Industries during the 1st quarter worth approximately $24,941,000. Finally, American Century Companies Inc. grew its position in ABM Industries by 34.4% during the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider’s stock worth $75,326,000 after purchasing an additional 406,802 shares during the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Trading Up 0.6%

NYSE ABM opened at $40.56 on Wednesday. ABM Industries Incorporated has a 1 year low of $40.24 and a 1 year high of $58.18. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. The company has a market capitalization of $2.48 billion, a PE ratio of 22.04 and a beta of 0.76. The company has a fifty day moving average of $44.57 and a 200 day moving average of $47.12.

ABM Industries (NYSE:ABM) last announced its quarterly earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to analyst estimates of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.ABM Industries’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.94 earnings per share. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. Research analysts forecast that ABM Industries Incorporated will post 3.71 earnings per share for the current year.

ABM Industries announced that its board has approved a stock buyback program on Friday, September 5th that authorizes the company to repurchase $150.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to reacquire up to 5% of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s management believes its stock is undervalued.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 2nd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a yield of 2.6%. The ex-dividend date was Thursday, October 2nd. ABM Industries’s dividend payout ratio (DPR) is currently 57.61%.

Analyst Upgrades and Downgrades

ABM has been the subject of a number of research analyst reports. Robert W. Baird reaffirmed a “neutral” rating and issued a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a report on Monday, September 8th. Wall Street Zen raised ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. UBS Group raised their target price on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a research note on Monday, September 8th. Baird R W downgraded ABM Industries from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, ABM Industries has an average rating of “Hold” and a consensus price target of $55.67.

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.