KLP Kapitalforvaltning AS Makes New $1.13 Million Investment in ABM Industries Incorporated (NYSE:ABM)

KLP Kapitalforvaltning AS purchased a new stake in ABM Industries Incorporated (NYSE:ABM) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 22,100 shares of the business services provider’s stock, valued at approximately $1,131,000.

Other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. purchased a new position in ABM Industries in the fourth quarter valued at about $33,000. Adirondack Trust Co. increased its stake in ABM Industries by 28.6% in 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 in the last quarter. Smartleaf Asset Management LLC raised its holdings in ABM Industries by 193.2% during the fourth quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider’s stock worth $46,000 after purchasing an additional 595 shares during the last quarter. Quarry LP boosted its position in ABM Industries by 49.7% during the third quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after purchasing an additional 721 shares in the last quarter. Finally, KBC Group NV grew its holdings in ABM Industries by 60.9% in the fourth quarter. KBC Group NV now owns 2,819 shares of the business services provider’s stock valued at $144,000 after purchasing an additional 1,067 shares during the last quarter. Hedge funds and other institutional investors own 91.62% of the company’s stock.

ABM Industries Trading Down 1.9 %

Shares of ABM Industries stock opened at $47.28 on Monday. The business has a 50 day moving average price of $51.51 and a 200 day moving average price of $52.85. The company has a market capitalization of $2.94 billion, a P/E ratio of 37.23, 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 current ratio of 1.33 and a quick ratio of 1.33. ABM Industries Incorporated has a 1 year low of $42.63 and a 1 year high of $59.78.

ABM Industries Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be given a $0.265 dividend. The ex-dividend date is Thursday, April 3rd. This represents a $1.06 annualized dividend and a dividend yield of 2.24%. ABM Industries’s dividend payout ratio is currently 84.13%.

Wall Street Analyst Weigh In

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

Insider Activity at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the company’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 transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $224,153.16. Following the sale, the chief accounting officer now directly owns 18,681 shares in the company, 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. Corporate insiders own 0.90% 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.