ABM Industries Incorporated (NYSE:ABM) Stake Boosted by Northern Trust Corp

Northern Trust Corp lifted its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 5.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 836,801 shares of the business services provider's stock after purchasing an additional 42,997 shares during the period. Northern Trust Corp owned about 1.35% of ABM Industries worth $42,827,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC acquired a new stake in shares of ABM Industries during the 4th quarter worth $392,000. Olstein Capital Management L.P. grew its stake in shares of ABM Industries by 3.6% in the fourth quarter. Olstein Capital Management L.P. now owns 195,821 shares of the business services provider's stock valued at $10,022,000 after buying an additional 6,821 shares in the last quarter. KBC Group NV raised its holdings in shares of ABM Industries by 60.9% during the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after buying an additional 1,067 shares during the period. Sei Investments Co. lifted its position 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 acquiring an additional 116,827 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of ABM Industries by 23.1% during the fourth quarter. Wells Fargo & Company MN now owns 42,103 shares of the business services provider's stock valued at $2,155,000 after purchasing an additional 7,904 shares during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Stock Up 1.0%

ABM Industries stock traded up $0.52 during midday trading on Tuesday, hitting $51.89. The stock had a trading volume of 305,032 shares, compared to its average volume of 494,270. The stock has a market cap of $3.23 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.75 and a beta of 0.78. The business has a fifty day moving average price of $47.67 and a 200 day moving average price of $51.70. 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 Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Investors of record on Thursday, April 3rd were paid a dividend of $0.265 per share. The ex-dividend date of this dividend was Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.04%. ABM Industries's dividend payout ratio is presently 84.13%.

Insiders Place Their Bets

In related news, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total transaction of $90,054.00. Following the completion of the transaction, the executive vice president now owns 47,425 shares of the company's stock, valued at $2,372,672.75. This trade represents a 3.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.90% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Separately, UBS Group lowered their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a report on Thursday, March 13th.

About ABM Industries

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.