Meiji Yasuda Asset Management Co Ltd. Decreases Stock Holdings in ABM Industries Incorporated (NYSE:ABM)

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in ABM Industries Incorporated (NYSE:ABM) by 1.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 122,135 shares of the business services provider’s stock after selling 2,092 shares during the quarter. Meiji Yasuda Asset Management Co Ltd. owned approximately 0.20% of ABM Industries worth $6,251,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of ABM. Miracle Mile Advisors LLC acquired a new position in ABM Industries in the fourth quarter valued at approximately $392,000. Citigroup Inc. boosted its holdings in shares of ABM Industries by 51.3% in the 3rd quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after buying an additional 34,254 shares in the last quarter. Jane Street Group LLC grew its position in shares of ABM Industries by 91.8% in the 3rd quarter. Jane Street Group LLC now owns 82,094 shares of the business services provider’s stock valued at $4,331,000 after buying an additional 39,300 shares during the last quarter. Intech Investment Management LLC raised its stake in ABM Industries by 138.3% during the 3rd quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock worth $1,362,000 after acquiring an additional 14,977 shares in the last quarter. Finally, Natixis Advisors LLC purchased a new stake in ABM Industries in the third quarter valued at $543,000. 91.62% of the stock is owned by hedge funds and other institutional investors.

ABM Industries Stock Performance

Shares of ABM Industries stock opened at $47.57 on Tuesday. The stock has a market capitalization of $2.96 billion, a price-to-earnings ratio of 37.46, a PEG ratio of 2.75 and a beta of 1.13. The firm’s fifty day simple moving average is $51.94 and its 200-day simple moving average is $52.91. 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 12 month low of $42.63 and a 12 month high of $59.78.

ABM Industries Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid 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 (DPR) is 84.13%.

Analysts Set New Price Targets

Separately, UBS Group cut their target price on 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 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 transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Dean A. Chin sold 4,281 shares of the business’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 sale, the chief accounting officer now directly owns 18,681 shares in the company, valued at $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 insiders.

ABM Industries 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.