Millennium Management LLC lifted its position in ABM Industries, Inc. (NYSE:ABM) by 3,433.7% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 828,337 shares of the business services provider’s stock after buying an additional 804,896 shares during the quarter. Millennium Management LLC’s holdings in ABM Industries were worth $24,171,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. NumerixS Investment Technologies Inc purchased a new stake in shares of ABM Industries in the 2nd quarter valued at $149,000. SG Americas Securities LLC raised its holdings in shares of ABM Industries by 51.9% in the 2nd quarter. SG Americas Securities LLC now owns 5,490 shares of the business services provider’s stock valued at $160,000 after buying an additional 1,875 shares during the period. Jane Street Group LLC purchased a new stake in shares of ABM Industries in the 1st quarter valued at $222,000. Palouse Capital Management Inc. purchased a new stake in shares of ABM Industries in the 2nd quarter valued at $245,000. Finally, Burney Co. grew its stake in ABM Industries by 25.5% during the 2nd quarter. Burney Co. now owns 8,629 shares of the business services provider’s stock worth $252,000 after purchasing an additional 1,754 shares in the last quarter.
Several research firms recently commented on ABM. ValuEngine raised ABM Industries from a “sell” rating to a “hold” rating in a research note on Wednesday, September 12th. TheStreet raised ABM Industries from a “c+” rating to a “b-” rating in a research note on Friday, September 14th. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a research note on Tuesday, September 11th. Finally, Robert W. Baird cut ABM Industries from an “outperform” rating to a “neutral” rating and boosted their target price for the stock from $36.00 to $40.00 in a research note on Thursday, August 23rd. They noted that the move was a valuation call.
In related news, insider Scott B. Salmirs sold 6,239 shares of the business’s stock in a transaction on Wednesday, September 12th. The stock was sold at an average price of $33.98, for a total transaction of $212,001.22. Following the completion of the transaction, the insider now directly owns 120,693 shares of the company’s stock, valued at approximately $4,101,148.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Dean A. Chin sold 5,682 shares of the company’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $33.60, for a total value of $190,915.20. Following the transaction, the senior vice president now directly owns 32,847 shares of the company’s stock, valued at $1,103,659.20. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
ABM opened at $32.72 on Thursday. ABM Industries, Inc. has a 12 month low of $28.17 and a 12 month high of $44.70. The firm has a market cap of $2.20 billion, a P/E ratio of 20.02 and a beta of 0.77. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 0.69.
ABM Industries (NYSE:ABM) last released its earnings results on Thursday, September 6th. The business services provider reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.53 by $0.04. ABM Industries had a return on equity of 7.75% and a net margin of 1.34%. The firm had revenue of $1.62 billion during the quarter, compared to analysts’ expectations of $1.65 billion. During the same period in the previous year, the firm posted $0.51 EPS. ABM Industries’s revenue for the quarter was up 23.2% on a year-over-year basis. research analysts forecast that ABM Industries, Inc. will post 1.88 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, November 5th. Investors of record on Thursday, October 4th will be paid a dividend of $0.175 per share. The ex-dividend date of this dividend is Wednesday, October 3rd. This represents a $0.70 annualized dividend and a yield of 2.14%. ABM Industries’s payout ratio is 40.00%.
ABM Industries Profile
ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through five segments: Business & Industry, Aviation, Emerging Industries Group, Technical Solutions, and GCA Services. It offers janitorial, facilities engineering, parking, passenger assistance, catering, air cabin maintenance, transportation, and specialized mechanical and electrical services.
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