ABM Industries (NYSE:ABM) Sets New 12-Month Low – Here’s What Happened

ABM Industries Incorporated (NYSE:ABM)’s stock price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $41.65 and last traded at $42.69, with a volume of 50249 shares trading hands. The stock had previously closed at $45.32.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th.

ABM Industries Price Performance

The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The stock has a market capitalization of $2.72 billion, a PE ratio of 34.52, a price-to-earnings-growth ratio of 2.75 and a beta of 1.05. The stock’s 50 day moving average is $50.93 and its two-hundred day moving average is $52.72.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be issued a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.42%. ABM Industries’s payout ratio is currently 84.13%.

Insider Transactions at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the firm’s stock in a transaction that occurred on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total value of $224,153.16. Following the transaction, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. This trade represents a 18.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Hedge Funds Weigh In On ABM Industries

Institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in ABM Industries by 25.9% in the 3rd quarter. FMR LLC now owns 89,209 shares of the business services provider’s stock valued at $4,707,000 after buying an additional 18,339 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of ABM Industries by 0.9% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 148,535 shares of the business services provider’s stock valued at $7,837,000 after purchasing an additional 1,366 shares during the period. Captrust Financial Advisors purchased a new stake in shares of ABM Industries in the third quarter valued at about $412,000. Quarry LP increased its position in ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC raised its stake in ABM Industries by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock worth $791,000 after purchasing an additional 588 shares during the period. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Company 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.