Graham Capital Management L.P. Reduces Position in ABM Industries Incorporated (NYSE:ABM)

Graham Capital Management L.P. lowered its position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 74.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,289 shares of the business services provider's stock after selling 21,107 shares during the quarter. Graham Capital Management L.P.'s holdings in ABM Industries were worth $373,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ABM. Deutsche Bank AG grew its position in shares of ABM Industries by 40.8% during the fourth quarter. Deutsche Bank AG now owns 60,678 shares of the business services provider's stock worth $3,106,000 after purchasing an additional 17,584 shares in the last quarter. Bridgefront Capital LLC bought a new position in ABM Industries in the 4th quarter worth approximately $204,000. Captrust Financial Advisors grew its holdings in ABM Industries by 2,101.3% during the 4th quarter. Captrust Financial Advisors now owns 172,057 shares of the business services provider's stock valued at $8,806,000 after buying an additional 164,241 shares in the last quarter. Bank of America Corp DE raised its position in shares of ABM Industries by 52.1% during the fourth quarter. Bank of America Corp DE now owns 677,811 shares of the business services provider's stock valued at $34,690,000 after buying an additional 232,190 shares during the last quarter. Finally, Algert Global LLC lifted its holdings in shares of ABM Industries by 10.1% in the fourth quarter. Algert Global LLC now owns 192,047 shares of the business services provider's stock worth $9,829,000 after buying an additional 17,546 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors.

Insider Activity at ABM Industries

In other ABM Industries news, CEO Scott B. Salmirs sold 37,065 shares of ABM Industries stock in a transaction on Thursday, May 15th. The shares were sold at an average price of $52.37, for a total value of $1,941,094.05. Following the completion of the transaction, the chief executive officer now directly owns 369,656 shares of the company's stock, valued at $19,358,884.72. This trade represents a 9.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Sean Michael Mahoney sold 1,800 shares of ABM Industries stock in a transaction dated Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value 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 represents a 3.66% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 52,374 shares of company stock valued at $2,733,303. 0.90% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Separately, UBS Group cut their target price 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.

ABM Industries Price Performance

ABM Industries stock traded down $0.88 during midday trading on Wednesday, reaching $51.59. 144,811 shares of the stock traded hands, compared to its average volume of 492,656. The stock has a market cap of $3.21 billion, a P/E ratio of 40.68, a PEG ratio of 2.75 and a beta of 0.78. The stock's fifty day moving average is $47.93 and its 200-day moving average is $51.66. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries Incorporated has a 12 month low of $40.85 and a 12 month high of $59.78.

ABM Industries Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd were given a dividend of $0.265 per share. The ex-dividend date was Thursday, April 3rd. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.05%. ABM Industries's dividend payout ratio is currently 84.13%.

ABM Industries Company 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.