Comerica Bank boosted its holdings in ABM Industries, Inc. (NYSE:ABM) by 0.9% in the third quarter, HoldingsChannel reports. The firm owned 185,974 shares of the business services provider’s stock after purchasing an additional 1,621 shares during the period. Comerica Bank’s holdings in ABM Industries were worth $5,721,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. FMR LLC grew its stake in ABM Industries by 52.3% in the second quarter. FMR LLC now owns 3,158,348 shares of the business services provider’s stock valued at $92,160,000 after acquiring an additional 1,084,507 shares during the period. Stevens Capital Management LP acquired a new stake in ABM Industries in the second quarter valued at approximately $550,000. MetLife Investment Advisors LLC grew its stake in ABM Industries by 17.7% in the second quarter. MetLife Investment Advisors LLC now owns 30,335 shares of the business services provider’s stock valued at $885,000 after acquiring an additional 4,564 shares during the period. CIBC Private Wealth Group LLC grew its stake in ABM Industries by 44.6% in the second quarter. CIBC Private Wealth Group LLC now owns 26,262 shares of the business services provider’s stock valued at $767,000 after acquiring an additional 8,100 shares during the period. Finally, Van ECK Associates Corp boosted its position in shares of ABM Industries by 17.2% during the second quarter. Van ECK Associates Corp now owns 28,643 shares of the business services provider’s stock valued at $836,000 after buying an additional 4,204 shares during the last quarter.

Several research analysts recently issued reports on ABM shares. Zacks Investment Research raised ABM Industries from a “sell” rating to a “hold” rating in a research report on Tuesday, September 11th. TheStreet raised ABM Industries from a “c+” rating to a “b-” rating in a research report on Friday, September 14th. ValuEngine raised ABM Industries from a “sell” rating to a “hold” rating in a research report on Wednesday, September 12th. Finally, Robert W. Baird cut ABM Industries from an “outperform” rating to a “neutral” rating and lifted their target price for the company from $36.00 to $40.00 in a research report on Thursday, August 23rd. They noted that the move was a valuation call.

In related news, SVP Dean A. Chin sold 2,018 shares of ABM Industries stock in a transaction on Monday, October 15th. The stock was sold at an average price of $30.39, for a total transaction of $61,327.02. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Dean A. Chin sold 5,682 shares of ABM Industries stock in a transaction on Friday, September 7th. The stock was sold at an average price of $33.60, for a total value of $190,915.20. Following the sale, the senior vice president now owns 32,847 shares in the company, valued at $1,103,659.20. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 13,939 shares of company stock worth $464,243. 0.81% of the stock is owned by insiders.

Shares of NYSE:ABM opened at $30.07 on Wednesday. The company has a market cap of $2.02 billion, a P/E ratio of 18.33 and a beta of 0.71. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.61 and a current ratio of 1.61. ABM Industries, Inc. has a 12-month low of $28.17 and a 12-month high of $44.70.

ABM Industries (NYSE:ABM) last announced its earnings results on Thursday, September 6th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.53 by $0.04. The company had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.65 billion. ABM Industries had a return on equity of 7.75% and a net margin of 1.34%. ABM Industries’s quarterly revenue was up 23.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.51 earnings per share. As a group, research analysts predict that ABM Industries, Inc. will post 1.88 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, November 5th. Investors of record on Thursday, October 4th were given a dividend of $0.175 per share. The ex-dividend date was Wednesday, October 3rd. This represents a $0.70 annualized dividend and a dividend yield of 2.33%. ABM Industries’s payout ratio is 40.00%.

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About ABM Industries

ABM Industries Incorporated provides integrated facility solutions in the United States and internationally. The company operates through Business & Industry, Aviation, Technology & Manufacturing, Education, Technical Solutions, and Healthcare segments. It offers janitorial, electrical and lighting, energy solutions, facilities engineering, HVAC and mechanical, landscape and turf, mission critical solutions, and parking.

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

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