BNP Paribas Arbitrage SA increased its stake in ABM Industries Incorporated (NYSE:ABM) by 338.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 55,639 shares of the business services provider’s stock after buying an additional 42,962 shares during the period. BNP Paribas Arbitrage SA owned about 0.10% of ABM Industries worth $2,310,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in ABM Industries by 65.1% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,400 shares of the business services provider’s stock valued at $105,000 after buying an additional 946 shares in the last quarter. Elkfork Partners LLC increased its stake in ABM Industries by 2.5% in the first quarter. Elkfork Partners LLC now owns 2,750 shares of the business services provider’s stock valued at $120,000 after buying an additional 66 shares in the last quarter. Meadow Creek Investment Management LLC increased its stake in ABM Industries by 2.5% in the first quarter. Meadow Creek Investment Management LLC now owns 3,500 shares of the business services provider’s stock valued at $153,000 after buying an additional 84 shares in the last quarter. Independent Portfolio Consultants Inc. bought a new stake in ABM Industries during the second quarter valued at $162,000. Finally, PNC Financial Services Group Inc. increased its stake in ABM Industries by 6.6% in the first quarter. PNC Financial Services Group Inc. now owns 3,839 shares of the business services provider’s stock valued at $167,000 after buying an additional 236 shares in the last quarter. 91.49% of the stock is currently owned by institutional investors.

Shares of ABM Industries Incorporated (ABM) opened at 43.96 on Thursday. The stock has a market capitalization of $2.45 billion, a P/E ratio of 195.38 and a beta of 0.80. ABM Industries Incorporated has a 12-month low of $37.60 and a 12-month high of $45.12. The stock has a 50 day moving average of $43.62 and a 200 day moving average of $42.60.

ABM Industries (NYSE:ABM) last announced its earnings results on Wednesday, June 7th. The business services provider reported $0.49 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.06. ABM Industries had a return on equity of 11.44% and a net margin of 0.25%. The business had revenue of $1.31 billion during the quarter, compared to analysts’ expectations of $1.30 billion. During the same quarter last year, the business posted $0.31 earnings per share. The company’s quarterly revenue was up 4.2% on a year-over-year basis. Equities research analysts anticipate that ABM Industries Incorporated will post $1.95 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, August 7th. Stockholders of record on Thursday, July 6th were issued a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, July 3rd. ABM Industries’s dividend payout ratio is 283.33%.

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Several research firms have weighed in on ABM. Robert W. Baird set a $47.00 target price on shares of ABM Industries and gave the stock a “buy” rating in a research report on Thursday, August 24th. BidaskClub downgraded shares of ABM Industries from a “strong-buy” rating to a “buy” rating in a report on Friday, August 11th. Zacks Investment Research downgraded shares of ABM Industries from a “buy” rating to a “hold” rating in a report on Wednesday, August 9th. Finally, Sidoti raised shares of ABM Industries from a “neutral” rating to a “buy” rating and upped their price objective for the company from $49.00 to $55.00 in a report on Thursday, July 13th. One research analyst has rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average target price of $48.25.

In related news, insider Rene Jacobsen sold 950 shares of the stock in a transaction dated Friday, June 9th. The stock was sold at an average price of $43.95, for a total value of $41,752.50. Following the completion of the sale, the insider now directly owns 16,594 shares of the company’s stock, valued at approximately $729,306.30. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider James P. Mcclure sold 1,970 shares of the stock in a transaction dated Thursday, June 8th. The stock was sold at an average price of $44.01, for a total value of $86,699.70. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,925 shares of company stock valued at $385,575. 1.30% of the stock is currently owned by company insiders.

ABM Industries Company Profile

ABM Industries Incorporated is a provider of integrated facility solutions. The Company operates through five segments: Janitorial, Facility Services, Parking, Building & Energy Solutions, and other. Its Janitorial segment provides a range of cleaning services for commercial office buildings, data centers, educational institutions, government buildings, health facilities, industrial buildings, retail stores, sport event facilities and transportation hubs.

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Institutional Ownership by Quarter for ABM Industries (NYSE:ABM)

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