ABM Industries Incorporated (NYSE:ABM) Short Interest Update

ABM Industries Incorporated (NYSE:ABM) saw a large decline in short interest during the month of November. As of November 30th, there was short interest totalling 1,020,000 shares, a decline of 11.3% from the November 15th total of 1,150,000 shares. Based on an average trading volume of 457,800 shares, the short-interest ratio is presently 2.2 days. Approximately 1.7% of the shares of the stock are sold short.

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at approximately $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.04% of the stock is currently owned by insiders.

Institutional Trading of ABM Industries

Several institutional investors have recently added to or reduced their stakes in the company. BOKF NA purchased a new stake in shares of ABM Industries during the second quarter valued at $30,000. Capital Performance Advisors LLP bought a new stake in ABM Industries during the 3rd quarter valued at about $30,000. Copeland Capital Management LLC purchased a new stake in ABM Industries in the 3rd quarter valued at about $37,000. GAMMA Investing LLC grew its stake in ABM Industries by 58.8% in the 3rd quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock worth $84,000 after acquiring an additional 589 shares in the last quarter. Finally, Quarry LP increased its position in shares of ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after acquiring an additional 721 shares during the period. Institutional investors own 91.62% of the company’s stock.

Wall Street Analyst Weigh In

ABM has been the subject of a number of recent research reports. UBS Group lifted their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a research note on Monday, September 9th. Robert W. Baird lifted their price target on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th. Finally, Truist Financial upped their price objective on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research report on Monday, September 9th.

ABM Industries Trading Down 3.3 %

ABM stock traded down $1.85 during mid-day trading on Tuesday, reaching $54.91. 435,792 shares of the stock traded hands, compared to its average volume of 529,410. ABM Industries has a one year low of $39.64 and a one year high of $59.78. The stock has a market capitalization of $3.45 billion, a PE ratio of 22.69 and a beta of 1.14. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50-day moving average price of $55.37 and a two-hundred day moving average price of $53.30.

ABM Industries Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be given a $0.265 dividend. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio is 43.80%.

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.