Cornercap Investment Counsel Inc. Has $652,000 Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Cornercap Investment Counsel Inc. trimmed its position in ABM Industries Incorporated (NYSE:ABM) by 51.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,889 shares of the business services provider’s stock after selling 13,503 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in ABM Industries were worth $652,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Financial Markets lifted its position in ABM Industries by 136.5% during the 4th quarter. BNP Paribas Financial Markets now owns 78,729 shares of the business services provider’s stock worth $3,529,000 after acquiring an additional 45,442 shares during the last quarter. Boston Partners increased its stake in shares of ABM Industries by 152.2% in the first quarter. Boston Partners now owns 24,125 shares of the business services provider’s stock worth $1,076,000 after purchasing an additional 14,560 shares during the period. Quadrature Capital Ltd lifted its position in shares of ABM Industries by 203.0% during the 4th quarter. Quadrature Capital Ltd now owns 37,990 shares of the business services provider’s stock worth $1,703,000 after purchasing an additional 25,453 shares during the last quarter. SG Capital Management LLC bought a new stake in ABM Industries during the 1st quarter valued at approximately $13,730,000. Finally, Janney Montgomery Scott LLC acquired a new stake in ABM Industries in the 1st quarter valued at approximately $481,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

Insider Activity

In related news, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the completion of the transaction, the chief operating officer now owns 72,062 shares in the company, valued at approximately $3,723,443.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other ABM Industries news, CAO Dean A. Chin sold 2,042 shares of the business’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $50.70, for a total value of $103,529.40. Following the transaction, the chief accounting officer now directly owns 18,493 shares in the company, valued at $937,595.10. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, COO Rene Jacobsen sold 40,000 shares of the firm’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $51.67, for a total transaction of $2,066,800.00. Following the sale, the chief operating officer now directly owns 72,062 shares of the company’s stock, valued at approximately $3,723,443.54. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,778 shares of company stock worth $4,039,248. Company insiders own 1.04% of the company’s stock.

ABM Industries Stock Performance

Shares of NYSE ABM opened at $51.59 on Friday. The firm has a market capitalization of $3.24 billion, a price-to-earnings ratio of 13.51 and a beta of 1.14. ABM Industries Incorporated has a one year low of $38.48 and a one year high of $59.78. The business has a fifty day simple moving average of $53.47 and a 200 day simple moving average of $48.43. The company has a current ratio of 1.38, a quick ratio of 1.44 and a debt-to-equity ratio of 0.71.

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

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd will be issued a dividend of $0.225 per share. This represents a $0.90 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend is Thursday, October 3rd. ABM Industries’s payout ratio is 23.56%.

ABM Industries 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.