Short Interest in ABM Industries Incorporated (NYSE:ABM) Increases By 7.3%

ABM Industries Incorporated (NYSE:ABM - Get Free Report) was the recipient of a large growth in short interest during the month of April. As of April 15th, there was short interest totalling 2,650,000 shares, a growth of 7.3% from the March 31st total of 2,470,000 shares. Currently, 4.3% of the company's shares are short sold. Based on an average trading volume of 597,800 shares, the days-to-cover ratio is presently 4.4 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com downgraded shares of ABM Industries from a "buy" rating to a "hold" rating in a research report on Saturday, February 3rd. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $45.20.

ABM Industries Stock Up 2.5 %

ABM traded up $1.08 during trading on Wednesday, hitting $44.79. 650,857 shares of the company's stock were exchanged, compared to its average volume of 576,517. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 0.71. The business's 50 day moving average is $43.11 and its two-hundred day moving average is $42.45. ABM Industries has a fifty-two week low of $37.61 and a fifty-two week high of $53.05. The stock has a market cap of $2.83 billion, a P/E ratio of 11.17 and a beta of 1.16.

ABM Industries (NYSE:ABM - Get Free Report) last released its quarterly earnings data on Thursday, March 7th. The business services provider reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.72 by $0.14. ABM Industries had a net margin of 3.15% and a return on equity of 12.88%. The firm had revenue of $2.07 billion for the quarter, compared to the consensus estimate of $2.01 billion. During the same quarter in the prior year, the company posted $0.79 earnings per share. The business's revenue was up 3.9% on a year-over-year basis. As a group, equities analysts expect that ABM Industries will post 3.37 earnings per share for the current fiscal year.

ABM Industries Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 6th. Stockholders of record on Thursday, April 4th will be issued a $0.225 dividend. The ex-dividend date is Wednesday, April 3rd. This represents a $0.90 annualized dividend and a dividend yield of 2.01%. ABM Industries's dividend payout ratio is currently 23.02%.

Insiders Place Their Bets

In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the business's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares of the company's stock, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other ABM Industries news, COO Rene Jacobsen sold 5,563 shares of the business's stock in a transaction that occurred on Monday, March 25th. The shares were sold at an average price of $43.59, for a total transaction of $242,491.17. Following the sale, the chief operating officer now directly owns 111,677 shares of the company's stock, valued at approximately $4,868,000.43. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dean A. Chin sold 5,465 shares of the business's stock in a transaction that occurred on Friday, March 22nd. The stock was sold at an average price of $44.89, for a total transaction of $245,323.85. Following the completion of the transaction, the chief accounting officer now owns 19,972 shares in the company, valued at approximately $896,543.08. The disclosure for this sale can be found here. Insiders own 1.04% of the company's stock.

Institutional Trading of ABM Industries

Several institutional investors and hedge funds have recently made changes to their positions in the company. Van ECK Associates Corp raised its holdings in shares of ABM Industries by 36.9% in the first quarter. Van ECK Associates Corp now owns 78,681 shares of the business services provider's stock valued at $3,511,000 after purchasing an additional 21,220 shares during the last quarter. Naples Global Advisors LLC increased its holdings in ABM Industries by 13.4% during the first quarter. Naples Global Advisors LLC now owns 7,407 shares of the business services provider's stock worth $330,000 after buying an additional 877 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in ABM Industries by 171.7% during the first quarter. Commonwealth Equity Services LLC now owns 13,782 shares of the business services provider's stock worth $615,000 after buying an additional 8,710 shares during the last quarter. Simplicity Wealth LLC purchased a new stake in ABM Industries during the first quarter worth about $3,480,000. Finally, Olstein Capital Management L.P. increased its holdings in ABM Industries by 18.3% during the first quarter. Olstein Capital Management L.P. now owns 289,953 shares of the business services provider's stock worth $12,938,000 after buying an additional 44,953 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company's stock.

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.

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