Van ECK Associates Corp grew its stake in shares of ABM Industries Incorporated (NYSE:ABM – Get Rating) by 6.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 61,160 shares of the business services provider's stock after acquiring an additional 3,912 shares during the period. Van ECK Associates Corp owned about 0.09% of ABM Industries worth $2,338,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ABM. Wipfli Financial Advisors LLC purchased a new position in ABM Industries in the third quarter valued at approximately $38,000. SkyOak Wealth LLC grew its stake in shares of ABM Industries by 5.1% during the 3rd quarter. SkyOak Wealth LLC now owns 7,662 shares of the business services provider's stock worth $293,000 after acquiring an additional 371 shares during the period. Trust Co. of Vermont increased its holdings in ABM Industries by 44.0% in the 3rd quarter. Trust Co. of Vermont now owns 8,468 shares of the business services provider's stock worth $324,000 after acquiring an additional 2,586 shares during the last quarter. Louisiana State Employees Retirement System bought a new stake in ABM Industries in the 3rd quarter valued at about $1,220,000. Finally, Olstein Capital Management L.P. lifted its holdings in ABM Industries by 26.2% during the third quarter. Olstein Capital Management L.P. now owns 208,000 shares of the business services provider's stock valued at $7,952,000 after purchasing an additional 43,147 shares during the last quarter. Hedge funds and other institutional investors own 92.15% of the company's stock.
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ABM Industries Stock Performance
NYSE:ABM opened at $46.36 on Friday. ABM Industries Incorporated has a 52-week low of $37.68 and a 52-week high of $54.00. The business's fifty day moving average is $45.16 and its 200 day moving average is $43.97. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.15 and a current ratio of 1.15. The firm has a market cap of $3.04 billion, a price-to-earnings ratio of 13.60 and a beta of 1.13.
ABM Industries Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 6th. Stockholders of record on Thursday, January 5th will be given a $0.22 dividend. This is a positive change from ABM Industries's previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date of this dividend is Wednesday, January 4th. ABM Industries's dividend payout ratio (DPR) is 25.81%.
Analysts Set New Price Targets
Separately, StockNews.com assumed coverage on shares of ABM Industries in a research note on Wednesday, October 12th. They issued a "hold" rating for the company.
Insider Activity at ABM Industries
In other ABM Industries news, CAO Dean A. Chin sold 2,520 shares of the stock in a transaction that occurred on Wednesday, January 11th. The shares were sold at an average price of $45.92, for a total value of $115,718.40. Following the sale, the chief accounting officer now directly owns 22,533 shares in the company, valued at approximately $1,034,715.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Dean A. Chin sold 2,521 shares of the business's stock in a transaction dated Tuesday, October 25th. The stock was sold at an average price of $43.00, for a total transaction of $108,403.00. Following the completion of the transaction, the chief accounting officer now directly owns 20,994 shares in the company, valued at $902,742. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Dean A. Chin sold 2,520 shares of the company's stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $45.92, for a total value of $115,718.40. Following the completion of the transaction, the chief accounting officer now owns 22,533 shares in the company, valued at $1,034,715.36. The disclosure for this sale can be found here. 0.54% of the stock is owned by corporate insiders.
About ABM Industries
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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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