Private Trust Co. NA acquired a new position in shares of ABM Industries Incorporated (NYSE:ABM – Get Rating) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 1,137 shares of the business services provider's stock, valued at approximately $43,000.
Other hedge funds also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC lifted its position in ABM Industries by 23.6% during the 2nd quarter. Allspring Global Investments Holdings LLC now owns 194,218 shares of the business services provider's stock worth $8,432,000 after acquiring an additional 37,040 shares during the period. BNP Paribas Arbitrage SA lifted its position in ABM Industries by 6.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 27,741 shares of the business services provider's stock worth $1,205,000 after acquiring an additional 1,621 shares during the period. Envestnet Asset Management Inc. lifted its position in ABM Industries by 3.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 123,880 shares of the business services provider's stock worth $5,379,000 after acquiring an additional 4,082 shares during the period. Keeley Teton Advisors LLC lifted its position in ABM Industries by 9.6% during the 1st quarter. Keeley Teton Advisors LLC now owns 122,841 shares of the business services provider's stock worth $5,656,000 after acquiring an additional 10,808 shares during the period. Finally, PDT Partners LLC purchased a new position in shares of ABM Industries during the 2nd quarter worth approximately $838,000. 92.15% of the stock is owned by institutional investors and hedge funds.
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ABM Industries Stock Performance
NYSE ABM opened at $44.42 on Tuesday. ABM Industries Incorporated has a 1-year low of $37.68 and a 1-year high of $54.00. The company has a market capitalization of $2.91 billion, a P/E ratio of 13.03 and a beta of 1.13. The business has a 50 day moving average price of $44.87 and a 200 day moving average price of $43.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.15 and a quick ratio of 1.15.
ABM Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 6th. Investors of record on Thursday, January 5th will be paid a $0.22 dividend. This is an increase from ABM Industries's previous quarterly dividend of $0.20. This represents a $0.88 annualized dividend and a yield of 1.98%. The ex-dividend date is Wednesday, January 4th. ABM Industries's dividend payout ratio (DPR) is presently 22.87%.
Analysts Set New Price Targets
ABM has been the subject of a number of analyst reports. StockNews.com initiated coverage on ABM Industries in a research note on Wednesday, October 12th. They set a "hold" rating for the company. Robert W. Baird cut their target price on ABM Industries from $53.00 to $52.00 and set an "outperform" rating for the company in a research note on Monday, September 12th.
Insider Activity at ABM Industries
In related news, CAO Dean A. Chin sold 2,521 shares of the firm's stock in a transaction that occurred on Tuesday, October 25th. The stock was sold at an average price of $43.00, for a total value of $108,403.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,994 shares of the company's stock, valued at approximately $902,742. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.54% of the stock is currently owned by company insiders.
ABM Industries Company Profile
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ABM Industries Incorporated, through its subsidiaries, engages in the provision of integrated facility, infrastructure, and mobility solutions in the United States and internationally. The company operates through Business & Industry, Manufacturing & Distribution, Education, Aviation, and Technical Solutions segments.
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