5,917 Shares in ABM Industries Incorporated (NYSE:ABM) Bought by Cibc World Markets Corp

Cibc World Markets Corp acquired a new stake in shares of ABM Industries Incorporated (NYSE:ABM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 5,917 shares of the business services provider’s stock, valued at approximately $303,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pzena Investment Management LLC lifted its position in shares of ABM Industries by 22.5% in the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider’s stock valued at $43,550,000 after acquiring an additional 156,450 shares in the last quarter. Barclays PLC raised its stake in ABM Industries by 238.7% in the 3rd quarter. Barclays PLC now owns 113,850 shares of the business services provider’s stock valued at $6,004,000 after purchasing an additional 80,238 shares during the last quarter. Raymond James Financial Inc. purchased a new position in ABM Industries in the 4th quarter valued at $3,502,000. Wealthfront Advisers LLC acquired a new stake in ABM Industries during the 4th quarter worth $3,084,000. Finally, Jane Street Group LLC boosted its stake in ABM Industries by 91.8% during the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock worth $4,331,000 after purchasing an additional 39,300 shares during the last quarter. 91.62% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Dean A. Chin sold 4,281 shares of the company’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 transaction, the chief accounting officer now directly owns 18,681 shares in the company, valued at approximately $978,137.16. This represents a 18.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, 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 value of $528,400.00. Following the sale, the chief operating officer now directly owns 87,808 shares of the company’s stock, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company’s stock.

ABM Industries Price Performance

NYSE:ABM opened at $47.57 on Tuesday. The stock has a 50 day moving average price of $51.94 and a 200 day moving average price of $52.91. The stock has a market cap of $2.96 billion, a PE ratio of 37.46, a P/E/G ratio of 2.75 and a beta of 1.13. 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 one year low of $42.63 and a one year high of $59.78.

ABM Industries Dividend Announcement

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

Analysts Set New Price Targets

Separately, UBS Group decreased their price target on shares of ABM Industries from $56.00 to $50.00 and set a “neutral” rating on the stock in a research note on Thursday, March 13th.

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.