HighTower Advisors LLC Acquires 588 Shares of ABM Industries Incorporated (NYSE:ABM)

HighTower Advisors LLC grew its holdings in ABM Industries Incorporated (NYSE:ABM) by 3.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 20,036 shares of the business services provider’s stock after buying an additional 588 shares during the period. HighTower Advisors LLC’s holdings in ABM Industries were worth $1,025,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. SBI Securities Co. Ltd. bought a new stake in ABM Industries during the fourth quarter worth approximately $33,000. Adirondack Trust Co. increased its position in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after purchasing an additional 200 shares during the last quarter. Smartleaf Asset Management LLC raised its holdings in 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 buying an additional 595 shares during the period. Quarry LP lifted its position in ABM Industries by 49.7% in the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after buying an additional 721 shares during the last quarter. Finally, KBC Group NV boosted its stake in ABM Industries by 60.9% during 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 during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

ABM opened at $47.62 on Thursday. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The business has a fifty day moving average of $51.73 and a 200 day moving average of $52.85. ABM Industries Incorporated has a 52-week low of $42.63 and a 52-week high of $59.78. The stock has a market cap of $2.96 billion, a P/E ratio of 37.49, a PEG ratio of 2.75 and a beta of 1.13.

ABM Industries Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.23%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s dividend payout ratio is presently 84.13%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the company’s stock in a transaction 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 of the company’s stock, valued at $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by insiders.

About ABM Industries

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.