Olympiad Research LP Buys 4,133 Shares of ABM Industries Incorporated (NYSE:ABM)

Olympiad Research LP lifted its stake in ABM Industries Incorporated (NYSE:ABM) by 102.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 8,182 shares of the business services provider’s stock after purchasing an additional 4,133 shares during the quarter. Olympiad Research LP’s holdings in ABM Industries were worth $432,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Pacer Advisors Inc. purchased a new stake in ABM Industries in the 2nd quarter worth about $125,118,000. Pzena Investment Management LLC purchased a new stake in ABM Industries in the 2nd quarter valued at about $21,032,000. LSV Asset Management bought a new stake in shares of ABM Industries during the first quarter valued at approximately $17,645,000. SG Capital Management LLC purchased a new stake in shares of ABM Industries in the first quarter valued at approximately $13,730,000. Finally, Invenomic Capital Management LP purchased a new position in ABM Industries during the 1st quarter worth $10,071,000. Institutional investors own 91.62% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Earl Ray Ellis sold 40,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the sale, the chief financial officer now owns 45,260 shares in the company, valued at $2,442,229.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.04% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. UBS Group increased their price target on ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Truist Financial boosted their price objective on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research note on Monday, September 9th. StockNews.com downgraded ABM Industries from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Finally, Robert W. Baird raised their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Price Performance

NYSE ABM opened at $57.17 on Thursday. ABM Industries Incorporated has a 12-month low of $39.27 and a 12-month high of $59.78. The firm’s fifty day simple moving average is $52.91 and its two-hundred day simple moving average is $51.09. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. The firm has a market capitalization of $3.59 billion, a P/E ratio of 23.62 and a beta of 1.14.

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

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, November 4th. Shareholders of record on Thursday, October 3rd were paid a dividend of $0.225 per share. The ex-dividend date was Thursday, October 3rd. This represents a $0.90 dividend on an annualized basis and a yield of 1.57%. ABM Industries’s payout ratio is 37.19%.

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.