ABM Industries Incorporated (NYSE:ABM) Sees Significant Drop in Short Interest

ABM Industries Incorporated (NYSE:ABM) was the recipient of a significant drop in short interest during the month of January. As of January 31st, there was short interest totalling 1,630,000 shares, a drop of 6.3% from the January 15th total of 1,740,000 shares. Based on an average trading volume of 337,900 shares, the short-interest ratio is currently 4.8 days. Approximately 2.7% of the company’s shares are sold short.

ABM Industries Stock Down 0.8 %

Shares of ABM Industries stock traded down $0.44 on Tuesday, hitting $52.48. The company had a trading volume of 32,483 shares, compared to its average volume of 287,391. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 2.79 and a beta of 1.16. ABM Industries has a 1 year low of $39.77 and a 1 year high of $59.78. The stock has a 50 day moving average of $52.68 and a 200-day moving average of $53.59. 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 (NYSE:ABM) last issued its quarterly earnings data on Wednesday, December 18th. The business services provider reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.08 billion. ABM Industries had a return on equity of 12.48% and a net margin of 0.97%. The company’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same period in the prior year, the business posted $1.01 earnings per share. As a group, sell-side analysts forecast that ABM Industries will post 3.71 earnings per share for the current year.

ABM Industries Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Thursday, January 2nd were paid a $0.265 dividend. The ex-dividend date was Thursday, January 2nd. This is an increase from ABM Industries’s previous quarterly dividend of $0.23. This represents a $1.06 annualized dividend and a dividend yield of 2.02%. ABM Industries’s dividend payout ratio is 83.47%.

Insider Activity

In other news, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction dated Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Rene Jacobsen sold 10,000 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total value of $528,400.00. Following the completion of the sale, the chief operating officer now owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.04% of the company’s stock.

Institutional Trading of ABM Industries

Several institutional investors and hedge funds have recently modified their holdings of ABM. Capital Performance Advisors LLP purchased a new stake in shares of ABM Industries during the third quarter valued at approximately $30,000. SBI Securities Co. Ltd. purchased a new stake in shares of ABM Industries during the fourth quarter valued at approximately $33,000. Copeland Capital Management LLC purchased a new stake in shares of ABM Industries during the third quarter valued at approximately $37,000. Adirondack Trust Co. increased its position in shares of ABM Industries by 28.6% during the fourth quarter. Adirondack Trust Co. now owns 900 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 200 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its position in shares of ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock valued at $46,000 after acquiring an additional 595 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, UBS Group upped their price target on ABM Industries from $55.00 to $56.00 and gave the stock a “neutral” rating in a research note on Thursday, December 19th.

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.