ABM Industries Incorporated (NYSE:ABM) Shares Sold by State of Alaska Department of Revenue

State of Alaska Department of Revenue reduced its stake in ABM Industries Incorporated (NYSE:ABM) by 2.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,316 shares of the business services provider’s stock after selling 868 shares during the period. State of Alaska Department of Revenue owned approximately 0.06% of ABM Industries worth $1,807,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ABM. Amundi acquired a new stake in shares of ABM Industries in the fourth quarter valued at about $36,000. Exchange Traded Concepts LLC purchased a new stake in shares of ABM Industries during the fourth quarter valued at approximately $48,000. Point72 Asset Management L.P. acquired a new position in shares of ABM Industries during the second quarter worth $46,000. Quarry LP purchased a new position in shares of ABM Industries in the second quarter valued at $64,000. Finally, Neo Ivy Capital Management acquired a new stake in ABM Industries during the 2nd quarter valued at $123,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM opened at $44.15 on Friday. The company has a market capitalization of $2.79 billion, a P/E ratio of 11.29 and a beta of 1.16. The company has a 50-day moving average of $42.02 and a 200-day moving average of $42.07. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.48 and a current ratio of 1.48. ABM Industries Incorporated has a 1-year low of $37.61 and a 1-year high of $53.05.

ABM Industries (NYSE:ABM) last announced its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.72 by $0.14. ABM Industries had a return on equity of 12.88% and a net margin of 3.15%. The firm had revenue of $2.07 billion during the quarter, compared to analyst estimates of $2.01 billion. During the same period in the previous year, the company earned $0.79 earnings per share. ABM Industries’s quarterly revenue was up 3.9% on a year-over-year basis. Equities analysts expect that ABM Industries Incorporated will post 3.37 EPS for the current fiscal year.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 6th. Investors of record on Thursday, April 4th will be given a dividend of $0.225 per share. This represents a $0.90 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Wednesday, April 3rd. ABM Industries’s dividend payout ratio is currently 23.02%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a research note on Saturday, February 3rd. Truist Financial increased their price target on ABM Industries from $43.00 to $53.00 and gave the company a “hold” rating in a report on Thursday, December 14th. Six investment analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat.com, ABM Industries presently has a consensus rating of “Hold” and an average price target of $45.20.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the stock in a transaction on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were sold at an average price of $43.59, for a total value of $242,491.17. Following the transaction, the chief operating officer now owns 111,677 shares of the company’s stock, valued at $4,868,000.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the company’s stock in a transaction that occurred on Friday, March 22nd. The shares were sold at an average price of $44.89, for a total value of $245,323.85. Following the transaction, the chief accounting officer now directly owns 19,972 shares of the company’s stock, valued at $896,543.08. The disclosure for this sale can be found here. 1.04% of the stock is currently owned by corporate insiders.

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.