Bank of America Corp DE Increases Holdings in ABM Industries Incorporated (NYSE:ABM)

Bank of America Corp DE raised its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 52.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 677,811 shares of the business services provider's stock after purchasing an additional 232,190 shares during the period. Bank of America Corp DE owned 1.09% of ABM Industries worth $34,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Algert Global LLC raised its position in shares of ABM Industries by 10.1% in the fourth quarter. Algert Global LLC now owns 192,047 shares of the business services provider's stock valued at $9,829,000 after purchasing an additional 17,546 shares during the period. Mercer Global Advisors Inc. ADV bought a new stake in ABM Industries during the 4th quarter valued at $337,000. Northern Trust Corp lifted its position in shares of ABM Industries by 5.4% during the fourth quarter. Northern Trust Corp now owns 836,801 shares of the business services provider's stock worth $42,827,000 after acquiring an additional 42,997 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in shares of ABM Industries by 5.3% in the fourth quarter. MetLife Investment Management LLC now owns 38,103 shares of the business services provider's stock worth $1,950,000 after acquiring an additional 1,905 shares during the period. Finally, Marshall Wace LLP bought a new position in shares of ABM Industries in the fourth quarter worth $373,000. 91.62% of the stock is owned by institutional investors.

ABM Industries Stock Down 0.2%

ABM traded down $0.08 during midday trading on Tuesday, reaching $52.50. The company's stock had a trading volume of 368,141 shares, compared to its average volume of 493,738. The stock's 50-day moving average is $47.83 and its 200-day moving average is $51.66. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78. The firm has a market capitalization of $3.27 billion, a price-to-earnings ratio of 41.34, a PEG ratio of 2.75 and a beta of 0.78. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 3rd were given a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, April 3rd. ABM Industries's dividend payout ratio (DPR) is currently 84.13%.

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price objective on ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th.

Insider Buying and Selling

In other news, CEO Scott B. Salmirs sold 800 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.09, for a total value of $41,672.00. Following the completion of the transaction, the chief executive officer now owns 418,856 shares in the company, valued at $21,818,209.04. The trade was a 0.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value of $90,054.00. Following the completion of the sale, the executive vice president now owns 47,425 shares of the company's stock, valued at $2,372,672.75. The trade was a 3.66% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 52,374 shares of company stock worth $2,733,303 in the last three months. Insiders own 0.90% of the company's stock.

ABM Industries 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.