State of Wyoming Cuts Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

State of Wyoming trimmed its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 35.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,012 shares of the business services provider's stock after selling 5,495 shares during the period. State of Wyoming's holdings in ABM Industries were worth $512,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ABM. Barclays PLC raised its stake in shares of ABM Industries by 238.7% during the third quarter. Barclays PLC now owns 113,850 shares of the business services provider's stock valued at $6,004,000 after acquiring an additional 80,238 shares during the last quarter. Adirondack Trust Co. raised its stake in shares of ABM Industries by 28.6% during the fourth 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. Cornerstone Wealth Management LLC raised its stake in shares of ABM Industries by 6.2% during the fourth quarter. Cornerstone Wealth Management LLC now owns 10,755 shares of the business services provider's stock valued at $550,000 after acquiring an additional 630 shares during the last quarter. Olstein Capital Management L.P. raised its stake in shares of ABM Industries by 3.6% during 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 acquiring an additional 6,821 shares during the last quarter. Finally, KBC Group NV raised its stake 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 valued at $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 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 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 approximately $2,372,672.75. This trade represents a 3.66% decrease in their ownership of the stock. 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 37,065 shares of the stock in a transaction that occurred on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total transaction of $1,941,094.05. Following the sale, the chief executive officer now owns 369,656 shares in the company, valued at approximately $19,358,884.72. The trade was a 9.11% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 52,374 shares of company stock valued at $2,733,303. Corporate insiders own 0.90% of the company's stock.

ABM Industries Price Performance

ABM stock opened at $52.61 on Tuesday. ABM Industries Incorporated has a 1 year low of $40.85 and a 1 year high of $59.78. The firm has a 50-day moving average of $47.83 and a 200 day moving average of $51.66. The company has a market cap of $3.27 billion, a P/E ratio of 41.43, a PEG ratio of 2.75 and a beta of 0.78. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.33 and a quick ratio of 1.33.

ABM Industries Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd were paid a dividend of $0.265 per share. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date was Thursday, April 3rd. ABM Industries's dividend payout ratio is 84.13%.

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price target on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a research note 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.

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