Sei Investments Co. Acquires 116,827 Shares of ABM Industries Incorporated (NYSE:ABM)

Sei Investments Co. grew its stake in ABM Industries Incorporated (NYSE:ABM) by 321.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 153,193 shares of the business services provider’s stock after purchasing an additional 116,827 shares during the period. Sei Investments Co. owned approximately 0.25% of ABM Industries worth $7,840,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Savant Capital LLC grew its position in ABM Industries by 1.7% in the fourth quarter. Savant Capital LLC now owns 11,707 shares of the business services provider’s stock valued at $599,000 after acquiring an additional 191 shares during the period. Adirondack Trust Co. grew its holdings in shares of ABM Industries by 28.6% in the 4th 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 last quarter. Naples Global Advisors LLC increased its position in shares of ABM Industries by 2.3% during the 4th 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 holdings in ABM Industries by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider’s stock valued at $321,000 after purchasing an additional 289 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC boosted its position in ABM Industries by 3.9% in the third quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider’s stock valued at $791,000 after buying an additional 588 shares in the last quarter. 91.62% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at ABM Industries

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

Wall Street Analyst Weigh In

Separately, UBS Group dropped their price objective 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.

ABM Industries Stock Performance

Shares of NYSE:ABM opened at $47.28 on Monday. The business has a fifty day moving average of $51.51 and a 200-day moving average of $52.85. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. ABM Industries Incorporated has a twelve month low of $42.63 and a twelve month high of $59.78. The firm has a market cap of $2.94 billion, a PE ratio of 37.23, a price-to-earnings-growth 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 issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s dividend payout ratio is currently 84.13%.

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.