Gotham Asset Management LLC reduced its stake in ABM Industries Incorporated (NYSE:ABM - Free Report) by 49.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,123 shares of the business services provider's stock after selling 14,701 shares during the period. Gotham Asset Management LLC's holdings in ABM Industries were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SBI Securities Co. Ltd. acquired a new stake in ABM Industries in the fourth quarter valued at approximately $33,000. Adirondack Trust Co. lifted its stake in shares of ABM Industries by 28.6% in the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock valued at $46,000 after acquiring an additional 200 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock valued at $46,000 after acquiring an additional 595 shares in the last quarter. Sterling Capital Management LLC boosted 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 acquiring an additional 1,820 shares in the last quarter. Finally, KBC Group NV grew its position in ABM Industries by 60.9% during the 4th quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock worth $144,000 after acquiring an additional 1,067 shares during the last quarter. 91.62% of the stock is owned by institutional investors.
Insider Buying and Selling
In other news, EVP Sean Michael Mahoney sold 1,800 shares of the business'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 transaction, the executive vice president now owns 47,425 shares in the company, valued at approximately $2,372,672.75. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Scott B. Salmirs sold 800 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $52.09, for a total transaction of $41,672.00. Following the sale, the chief executive officer now owns 418,856 shares of the company's stock, valued at approximately $21,818,209.04. This trade represents a 0.19% 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 valued at $2,733,303 in the last three months. Insiders own 0.90% of the company's stock.
ABM Industries Trading Up 0.6%
Shares of NYSE ABM opened at $52.62 on Monday. The firm has a 50 day moving average price of $47.68 and a two-hundred day moving average price of $51.66. The stock has a market cap of $3.27 billion, a P/E ratio of 41.44, a price-to-earnings-growth ratio of 2.75 and a beta of 0.78. ABM Industries Incorporated has a 52-week low of $40.85 and a 52-week high of $59.78. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33.
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 issued a $0.265 dividend. The ex-dividend date was Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a yield of 2.01%. ABM Industries's payout ratio is 84.13%.
Wall Street Analysts Forecast Growth
Separately, UBS Group dropped their target price 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.
Check Out Our Latest Report on ABM Industries
ABM Industries Company Profile
(
Free Report)
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider ABM Industries, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ABM Industries wasn't on the list.
While ABM Industries currently has a Hold rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
If a company's CEO, COO, and CFO were all selling shares of their stock, would you want to know? MarketBeat just compiled its list of the twelve stocks that corporate insiders are abandoning. Complete the form below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
