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

ABM Industries Incorporated (NYSE:ABM - Get Free Report) saw a large decline in short interest in 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. Currently, 1.9% of the company's shares are short sold. Based on an average daily trading volume, of 473,000 shares, the days-to-cover ratio is currently 2.4 days.

Analysts Set New Price Targets

Separately, UBS Group cut their price target on 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 Trading Up 0.3 %

Shares of ABM stock traded up $0.14 on Thursday, reaching $48.54. The company had a trading volume of 137,297 shares, compared to its average volume of 502,978. The stock has a market cap of $3.02 billion, a PE ratio of 38.19, a PEG ratio of 2.75 and a beta of 1.05. The company has a 50-day moving average of $48.61 and a 200-day moving average of $52.07. 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 has a 12 month low of $40.85 and a 12 month high of $59.78.

ABM Industries Dividend Announcement

The company also recently announced 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 of this dividend is Thursday, April 3rd. This represents a $1.06 annualized dividend and a yield of 2.18%. ABM Industries's dividend payout ratio (DPR) is presently 84.13%.

Insider Transactions at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.90% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ABM Industries

A number of hedge funds and other institutional investors have recently made changes to their positions in ABM. SBI Securities Co. Ltd. acquired a new stake in ABM Industries during the 4th quarter worth $33,000. Adirondack Trust Co. increased its holdings in shares of ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after acquiring an additional 200 shares in the last quarter. Smartleaf Asset Management LLC raised its position in shares of ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after purchasing an additional 595 shares during the period. Sterling Capital Management LLC lifted its holdings in shares of ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock valued at $104,000 after purchasing an additional 1,820 shares in the last quarter. Finally, KBC Group NV grew its position in shares of ABM Industries by 60.9% in the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock valued at $144,000 after purchasing an additional 1,067 shares during the period. 91.62% of the stock is owned by institutional investors.

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.