ABM Industries Incorporated (NYSE:ABM) Short Interest Down 21.9% in March

ABM Industries Incorporated (NYSE:ABM) was the target of a large decline in short interest during the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, a decline of 21.9% from the March 15th total of 1,460,000 shares. Based on an average daily volume of 473,000 shares, the short-interest ratio is presently 2.4 days. Approximately 1.9% of the company’s stock are short sold.

ABM Industries Price Performance

Shares of ABM Industries stock traded down $0.51 during trading on Monday, hitting $45.47. 505,360 shares of the company’s stock traded hands, compared to its average volume of 502,907. ABM Industries has a twelve month low of $40.85 and a twelve month high of $59.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33. The company has a market cap of $2.83 billion, a PE ratio of 35.80, a PEG ratio of 2.75 and a beta of 1.05. The firm’s fifty day moving average price is $48.82 and its 200 day moving average price is $52.13.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be paid a dividend of $0.265 per share. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.33%. ABM Industries’s dividend payout ratio is currently 84.13%.

Insider Activity at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares of the company’s stock, valued at $4,639,774.72. The trade was a 10.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.90% of the stock is owned by company insiders.

Hedge Funds Weigh In On ABM Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABM. Miracle Mile Advisors LLC bought a new stake in ABM Industries during the 4th quarter worth about $392,000. Olstein Capital Management L.P. increased its stake in shares of ABM Industries by 3.6% in the 4th quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider’s stock valued at $10,022,000 after acquiring an additional 6,821 shares during the last quarter. KBC Group NV raised its holdings in ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock worth $144,000 after purchasing an additional 1,067 shares during the period. Sei Investments Co. raised its stake in ABM Industries by 321.3% during the 4th quarter. Sei Investments Co. now owns 153,193 shares of the business services provider’s stock worth $7,840,000 after buying an additional 116,827 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its position in shares of ABM Industries by 2.8% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 138,889 shares of the business services provider’s stock worth $7,108,000 after purchasing an additional 3,804 shares during the period. 91.62% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, UBS Group reduced their price objective on ABM Industries from $56.00 to $50.00 and set a “neutral” rating for the company in a research report on Thursday, March 13th.

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.