CSM Advisors LLC Acquires New Shares in ABM Industries Incorporated $ABM

CSM Advisors LLC acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 83,989 shares of the business services provider’s stock, valued at approximately $3,967,000. CSM Advisors LLC owned 0.13% of ABM Industries at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Invesco Ltd. increased its holdings in shares of ABM Industries by 17.8% in the first quarter. Invesco Ltd. now owns 1,786,926 shares of the business services provider’s stock worth $84,629,000 after acquiring an additional 269,410 shares in the last quarter. American Century Companies Inc. increased its stake in ABM Industries by 34.4% during the 1st quarter. American Century Companies Inc. now owns 1,590,497 shares of the business services provider’s stock worth $75,326,000 after purchasing an additional 406,802 shares in the last quarter. LSV Asset Management increased its stake in ABM Industries by 66.4% during the 1st quarter. LSV Asset Management now owns 1,386,172 shares of the business services provider’s stock worth $65,649,000 after purchasing an additional 553,225 shares in the last quarter. Pzena Investment Management LLC raised its holdings in ABM Industries by 13.5% during the 2nd quarter. Pzena Investment Management LLC now owns 963,943 shares of the business services provider’s stock worth $45,508,000 after buying an additional 114,485 shares during the period. Finally, Boston Partners lifted its stake in ABM Industries by 2,129.6% in the first quarter. Boston Partners now owns 641,351 shares of the business services provider’s stock valued at $30,367,000 after buying an additional 612,586 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ABM has been the subject of several research reports. Wall Street Zen raised shares of ABM Industries from a “hold” rating to a “buy” rating in a research report on Saturday, October 4th. Robert W. Baird reissued a “neutral” rating and issued a $54.00 price target (down previously from $56.00) on shares of ABM Industries in a research note on Monday, September 8th. Baird R W lowered ABM Industries from a “strong-buy” rating to a “hold” rating in a report on Monday, September 8th. UBS Group increased their price objective on ABM Industries from $54.00 to $55.00 and gave the stock a “buy” rating in a report on Monday, September 8th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of ABM Industries in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, ABM Industries presently has a consensus rating of “Hold” and a consensus price target of $55.67.

ABM Industries Price Performance

Shares of NYSE ABM opened at $41.94 on Monday. The stock has a market capitalization of $2.57 billion, a price-to-earnings ratio of 22.80 and a beta of 0.76. The business has a 50-day moving average of $45.44 and a 200-day moving average of $47.46. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.49 and a quick ratio of 1.49. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.15.

ABM Industries (NYSE:ABM) last released its earnings results on Friday, September 5th. The business services provider reported $0.82 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.95 by ($0.13). The company had revenue of $2.22 billion for the quarter, compared to the consensus estimate of $2.16 billion. ABM Industries had a return on equity of 12.12% and a net margin of 1.34%.The business’s revenue was up 6.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.94 EPS. ABM Industries has set its FY 2025 guidance at 3.650-3.650 EPS. As a group, sell-side analysts predict that ABM Industries Incorporated will post 3.71 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Investors of record on Thursday, October 2nd were paid a $0.265 dividend. The ex-dividend date of this dividend was Thursday, October 2nd. This represents a $1.06 annualized dividend and a dividend yield of 2.5%. ABM Industries’s dividend payout ratio (DPR) is currently 57.61%.

ABM Industries announced that its board has initiated a stock buyback program on Friday, September 5th that permits the company to buyback $150.00 million in outstanding shares. This buyback authorization permits the business services provider to repurchase up to 5% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s management believes its stock is undervalued.

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.