Guidance Capital Inc. Invests $461,000 in ABM Industries Incorporated (NYSE:ABM)

Guidance Capital Inc. purchased a new position in ABM Industries Incorporated (NYSE:ABM) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 8,760 shares of the business services provider’s stock, valued at approximately $461,000.

A number of other institutional investors have also recently added to or reduced their stakes in ABM. Pzena Investment Management LLC lifted its position in ABM Industries by 67.0% during the third quarter. Pzena Investment Management LLC now owns 694,464 shares of the business services provider’s stock worth $36,640,000 after buying an additional 278,575 shares in the last quarter. Barclays PLC lifted its position in ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock worth $6,004,000 after buying an additional 80,238 shares in the last quarter. Victory Capital Management Inc. lifted its position in ABM Industries by 279.4% during the third quarter. Victory Capital Management Inc. now owns 108,067 shares of the business services provider’s stock worth $5,702,000 after buying an additional 79,587 shares in the last quarter. Foundry Partners LLC lifted its position in ABM Industries by 694.2% during the third quarter. Foundry Partners LLC now owns 86,868 shares of the business services provider’s stock worth $4,583,000 after buying an additional 75,930 shares in the last quarter. Finally, Jane Street Group LLC lifted its position in ABM Industries by 91.8% during the third quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock worth $4,331,000 after buying an additional 39,300 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

Insider Buying and Selling at ABM Industries

In other news, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 1.04% of the company’s stock.

ABM Industries Price Performance

NYSE:ABM opened at $53.14 on Thursday. ABM Industries Incorporated has a 52 week low of $39.64 and a 52 week high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The company has a market capitalization of $3.31 billion, a P/E ratio of 41.84, a P/E/G ratio of 2.78 and a beta of 1.16. The stock’s fifty day moving average is $53.29 and its two-hundred day moving average is $53.69.

ABM Industries (NYSE:ABM) last posted its earnings results on Wednesday, December 18th. The business services provider reported $0.90 EPS 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 company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.08 billion. During the same quarter in the previous year, the business earned $1.01 earnings per share. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.71 EPS for the current year.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Thursday, January 2nd were given a $0.265 dividend. The ex-dividend date was Thursday, January 2nd. This represents a $1.06 dividend on an annualized basis and a yield of 1.99%. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. ABM Industries’s payout ratio is currently 83.47%.

Analyst Ratings Changes

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

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.