Mercer Global Advisors Inc. ADV Takes Position in ABM Industries Incorporated (NYSE:ABM)

Mercer Global Advisors Inc. ADV bought a new position in ABM Industries Incorporated (NYSE:ABM - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,579 shares of the business services provider's stock, valued at approximately $337,000.

A number of other hedge funds also recently bought and sold shares of ABM. SBI Securities Co. Ltd. purchased a new position in ABM Industries during the fourth quarter valued at $33,000. Adirondack Trust Co. increased its holdings in 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 purchasing an additional 595 shares during the last quarter. Sterling Capital Management LLC grew its position 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 valued at $104,000 after purchasing an additional 1,820 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider's stock worth $144,000 after buying an additional 1,067 shares in the last quarter. Institutional investors own 91.62% of the company's stock.

Insiders Place Their Bets

In related news, EVP Sean Michael Mahoney sold 1,800 shares of the company's stock in a transaction that occurred on Wednesday, May 7th. The stock was sold at an average price of $50.03, for a total value of $90,054.00. Following the transaction, the executive vice president now directly owns 47,425 shares in the company, valued at approximately $2,372,672.75. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Scott B. Salmirs sold 37,065 shares of the business's 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 completion of the sale, the chief executive officer now directly owns 369,656 shares in the company, valued at $19,358,884.72. This trade represents a 9.11% decrease in their ownership of the stock. The disclosure for this sale can be found here. In 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 insiders.

Analysts Set New Price Targets

Separately, UBS Group lowered their price objective on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a research report on Thursday, March 13th.

ABM Industries Stock Down 0.1%

ABM Industries stock traded down $0.06 during trading hours on Tuesday, reaching $52.52. The stock had a trading volume of 12,181 shares, compared to its average volume of 492,334. The company has a market cap of $3.27 billion, a price-to-earnings ratio of 41.29, a PEG 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 current ratio of 1.33 and a quick ratio of 1.33. The business's 50 day moving average price is $47.83 and its 200-day moving average price is $51.66.

ABM Industries Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd were paid a $0.265 dividend. This represents a $1.06 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend was Thursday, April 3rd. ABM Industries's payout ratio is 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.