ABM Industries (NYSE:ABM) Sees Large Volume Increase – What’s Next?

by · The Cerbat Gem

ABM Industries Incorporated (NYSE:ABM – Get Free Report) saw unusually-high trading volume on Wednesday . Approximately 1,087,718 shares changed hands during mid-day trading, an increase of 144% from the previous session’s volume of 445,171 shares.The stock last traded at $41.28 and had previously closed at $42.24.

Analyst Upgrades and Downgrades

Separately, UBS Group reduced their price objective on ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research report on Thursday, March 13th.

Check Out Our Latest Analysis on ABM Industries

ABM Industries Stock Performance

The business’s 50-day moving average is $49.68 and its 200 day moving average is $52.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The company has a market cap of $2.87 billion, a PE ratio of 36.27, a PEG ratio of 2.75 and a beta of 1.05.

ABM Industries Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio (DPR) is presently 84.13%.

Insider Activity at ABM Industries

In other ABM Industries news, CAO Dean A. Chin sold 4,281 shares of the business’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total value of $224,153.16. Following the completion of the sale, the chief accounting officer now owns 18,681 shares in the company, valued at approximately $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now owns 87,808 shares in the company, valued at $4,639,774.72. This represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Institutional Trading of ABM Industries

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ABM. Savant Capital LLC lifted its position in shares of ABM Industries by 1.7% in the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock worth $599,000 after purchasing an additional 191 shares during the period. Adirondack Trust Co. grew its stake in ABM Industries by 28.6% in the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock worth $46,000 after purchasing an additional 200 shares during the period. Naples Global Advisors LLC raised its holdings in ABM Industries by 2.3% in the fourth quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider’s stock worth $565,000 after purchasing an additional 253 shares in the last quarter. CIBC Asset Management Inc lifted its position in ABM Industries by 4.8% during the fourth quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock valued at $321,000 after buying an additional 289 shares during the period. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of ABM Industries by 5.2% during the 4th quarter. Summit Investment Advisors Inc. now owns 6,615 shares of the business services provider’s stock valued at $339,000 after buying an additional 329 shares in the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Company Profile

(Get Free Report)

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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