ABM Industries Incorporated (NYSE:ABM) Short Interest Down 21.9% in March

ABM Industries Incorporated (NYSE:ABM) was the recipient of a large decline in short interest in March. As of March 31st, there was short interest totalling 1,140,000 shares, a decline of 21.9% from the March 15th total of 1,460,000 shares. Based on an average trading volume of 473,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 1.9% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price target on 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 Stock Performance

Shares of ABM Industries stock traded down $0.16 on Friday, reaching $45.93. 487,236 shares of the stock were exchanged, compared to its average volume of 502,896. The business has a 50 day moving average price of $48.97 and a two-hundred day moving average price of $52.16. The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 36.16, a PEG ratio of 2.75 and a beta of 1.05. ABM Industries has a twelve month low of $40.85 and a twelve month high of $59.78. The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73.

ABM Industries Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Shareholders of record on Thursday, April 3rd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.31%. The ex-dividend date is Thursday, April 3rd. ABM Industries’s payout ratio is 84.13%.

Insider Buying and Selling

In other news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The stock was 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. This represents a 10.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ABM Industries

A number of institutional investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its holdings in ABM Industries by 3.1% during the first quarter. Janney Montgomery Scott LLC now owns 30,736 shares of the business services provider’s stock worth $1,456,000 after acquiring an additional 910 shares during the period. Brighton Jones LLC acquired a new stake in shares of ABM Industries during the 1st quarter worth approximately $330,000. Palouse Capital Management Inc. lifted its stake in shares of ABM Industries by 17.4% in the 1st quarter. Palouse Capital Management Inc. now owns 3,016 shares of the business services provider’s stock valued at $143,000 after purchasing an additional 446 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in ABM Industries by 12.8% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 6,102 shares of the business services provider’s stock worth $289,000 after buying an additional 693 shares in the last quarter. Finally, apricus wealth LLC acquired a new stake in ABM Industries during the first quarter valued at $217,000. Hedge funds and other institutional investors own 91.62% of the company’s stock.

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.