Algert Global LLC Acquires 17,546 Shares of ABM Industries Incorporated (NYSE:ABM)

Algert Global LLC raised its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 10.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 192,047 shares of the business services provider's stock after buying an additional 17,546 shares during the quarter. Algert Global LLC owned about 0.31% of ABM Industries worth $9,829,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. American Century Companies Inc. lifted its position in ABM Industries by 2,322.1% during the 4th quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock worth $60,582,000 after buying an additional 1,134,825 shares in the last quarter. Norges Bank acquired a new position in ABM Industries during the fourth quarter worth $43,967,000. Invesco Ltd. lifted its stake in ABM Industries by 14.8% in the fourth quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock valued at $77,666,000 after acquiring an additional 195,978 shares during the last quarter. Pzena Investment Management LLC grew its position in shares of ABM Industries by 22.5% in the 4th quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock valued at $43,550,000 after acquiring an additional 156,450 shares during the period. Finally, Sei Investments Co. grew its holdings in ABM Industries by 321.3% during the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock worth $7,840,000 after purchasing an additional 116,827 shares during the period. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Price Performance

ABM stock traded up $0.02 during mid-day trading on Wednesday, hitting $49.81. The stock had a trading volume of 271,754 shares, compared to its average volume of 499,069. The firm has a fifty day simple moving average of $47.78 and a 200 day simple moving average of $51.78. The firm has a market capitalization of $3.10 billion, a P/E ratio of 39.22, a P/E/G 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 Incorporated has a 52 week low of $40.85 and a 52 week high of $59.78.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd were issued a $0.265 dividend. 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 2.13%. ABM Industries's dividend payout ratio (DPR) is currently 84.13%.

Insider Activity at ABM Industries

In other ABM Industries news, EVP Sean Michael Mahoney sold 1,800 shares of the firm's stock in a transaction that occurred on Wednesday, May 7th. The shares were sold at an average price of $50.03, for a total value of $90,054.00. Following the sale, the executive vice president now owns 47,425 shares in the company, 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 at this link. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

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.