Man Group plc Sells 122,937 Shares of ABM Industries Incorporated (NYSE:ABM)

Man Group plc reduced its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 78.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 34,135 shares of the business services provider's stock after selling 122,937 shares during the quarter. Man Group plc owned 0.05% of ABM Industries worth $1,747,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new stake in ABM Industries in the 4th quarter worth approximately $33,000. Smartleaf Asset Management LLC increased its stake in shares of ABM Industries by 193.2% in the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after acquiring an additional 595 shares during the last quarter. Sterling Capital Management LLC raised its holdings in shares of ABM Industries by 834.9% during the fourth quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after acquiring an additional 1,820 shares in the last quarter. KBC Group NV raised its holdings in shares of ABM Industries by 60.9% during the fourth 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 in the last quarter. Finally, Bridgefront Capital LLC acquired a new stake in ABM Industries during the fourth quarter valued at $204,000. 91.62% of the stock is owned by institutional investors and hedge funds.

ABM Industries Stock Performance

ABM traded down $0.06 during trading on Thursday, reaching $52.07. 22,252 shares of the company's stock were exchanged, compared to its average volume of 450,467. The company has a market capitalization of $3.24 billion, a P/E ratio of 40.99, a PEG ratio of 2.75 and a beta of 0.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The business has a 50 day moving average price of $48.47 and a 200 day moving average price of $51.51. ABM Industries Incorporated has a fifty-two week low of $40.85 and a fifty-two week high of $59.78.

ABM Industries Announces Dividend

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

Insiders Place Their Bets

In other ABM Industries news, EVP Sean Michael Mahoney sold 574 shares of the company's stock in a transaction dated Monday, May 5th. The shares were sold at an average price of $50.06, for a total transaction of $28,734.44. Following the transaction, the executive vice president now directly owns 49,225 shares in the company, valued at approximately $2,464,203.50. This represents a 1.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Scott B. Salmirs sold 37,065 shares of ABM Industries stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $52.37, for a total transaction of $1,941,094.05. Following the transaction, the chief executive officer now directly owns 369,656 shares in the company, valued at $19,358,884.72. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 52,374 shares of company stock valued at $2,733,303 in the last 90 days. 0.90% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Separately, UBS Group dropped their target price on ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a research report 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.