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 daily trading volume, of 457,800 shares, the days-to-cover ratio is presently 2.2 days. Currently, 1.7% of the shares of the stock are short sold.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ABM. Truist Financial raised their target price on shares of ABM Industries from $49.00 to $55.00 and gave the stock a “hold” rating in a research report on Monday, September 9th. UBS Group lifted their price objective on ABM Industries from $51.00 to $55.00 and gave the company a “neutral” rating in a research report on Monday, September 9th. Finally, Robert W. Baird increased their target price on ABM Industries from $49.00 to $56.00 and gave the stock a “neutral” rating in a research report on Monday, September 9th.

ABM Industries Stock Down 3.3 %

NYSE ABM traded down $1.85 during trading hours on Tuesday, reaching $54.91. 435,792 shares of the company’s stock traded hands, compared to its average volume of 529,410. ABM Industries has a 52-week low of $39.64 and a 52-week high of $59.78. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a 50-day simple moving average of $55.37 and a 200 day simple moving average of $53.30. The firm has a market cap of $3.45 billion, a PE ratio of 22.69 and a beta of 1.14.

ABM Industries Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 1.93%. This is a positive change from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date is Thursday, January 2nd. ABM Industries’s dividend payout ratio (DPR) is presently 43.80%.

Insider Buying and Selling

In other news, CFO Earl Ray Ellis sold 40,000 shares of ABM Industries stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the transaction, the chief financial officer now owns 45,260 shares in the company, valued at approximately $2,442,229.60. The trade was a 46.92 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 1.04% of the stock is currently owned by corporate insiders.

Institutional Trading of ABM Industries

Several hedge funds and other institutional investors have recently made changes to their positions in ABM. Pacer Advisors Inc. bought a new stake in ABM Industries in the second quarter worth $125,118,000. Pzena Investment Management LLC bought a new stake in ABM Industries during the 2nd quarter valued at about $21,032,000. LSV Asset Management raised its holdings in ABM Industries by 92.3% in the second quarter. LSV Asset Management now owns 760,321 shares of the business services provider’s stock worth $38,449,000 after buying an additional 364,879 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in ABM Industries by 652,535.3% in the second quarter. Allspring Global Investments Holdings LLC now owns 110,948 shares of the business services provider’s stock worth $5,611,000 after buying an additional 110,931 shares during the last quarter. Finally, Barclays PLC lifted its stake in shares of ABM Industries by 238.7% in the third quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock worth $6,004,000 after buying an additional 80,238 shares in 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.