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.
Get ABM Industries alerts: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
(Get Rating)
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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