ABM Industries Incorporated (NYSE:ABM) Short Interest Down 11.3% in November

ABM Industries Incorporated (NYSE:ABM) was the recipient of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 1,020,000 shares, a decrease of 11.3% from the November 15th total of 1,150,000 shares. Based on an average daily volume of 457,800 shares, the short-interest ratio is currently 2.2 days. Approximately 1.7% of the shares of the company are short sold.

ABM Industries Price Performance

NYSE ABM traded down $1.85 during trading hours on Tuesday, reaching $54.91. 435,792 shares of the company’s stock were exchanged, compared to its average volume of 529,410. The firm has a fifty day moving average of $55.37 and a 200-day moving average of $53.30. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.71. ABM Industries has a one year low of $39.64 and a one year high of $59.78. The stock has a market cap of $3.45 billion, a PE ratio of 22.69 and a beta of 1.14.

ABM Industries Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Thursday, January 2nd will be issued a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 1.93%. This is a boost from ABM Industries’s previous quarterly dividend of $0.23. The ex-dividend date of this dividend is Thursday, January 2nd. ABM Industries’s payout ratio is currently 43.80%.

Insider Buying and Selling at ABM Industries

In related news, CFO Earl Ray Ellis sold 40,000 shares of the firm’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $53.96, for a total value of $2,158,400.00. Following the completion of the transaction, the chief financial officer now directly owns 45,260 shares of the company’s stock, valued at $2,442,229.60. This trade represents a 46.92 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 1.04% of the company’s stock.

Institutional Investors Weigh In On ABM Industries

A number of hedge funds have recently added to or reduced their stakes in ABM. BOKF NA bought a new stake in ABM Industries during the 2nd quarter worth about $30,000. Capital Performance Advisors LLP bought a new stake in shares of ABM Industries during the third quarter worth approximately $30,000. Copeland Capital Management LLC acquired a new position in ABM Industries in the third quarter valued at approximately $37,000. GAMMA Investing LLC boosted its stake in ABM Industries by 58.8% in the third quarter. GAMMA Investing LLC now owns 1,590 shares of the business services provider’s stock valued at $84,000 after acquiring an additional 589 shares during the last quarter. Finally, Quarry LP grew its holdings in ABM Industries by 49.7% during the 3rd quarter. Quarry LP now owns 2,171 shares of the business services provider’s stock worth $115,000 after acquiring an additional 721 shares during the period. Institutional investors own 91.62% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on ABM. UBS Group raised their price objective on shares of ABM Industries from $51.00 to $55.00 and gave the stock a “neutral” rating in a report on Monday, September 9th. Robert W. Baird upped their price objective on ABM Industries from $49.00 to $56.00 and gave the company a “neutral” rating in a research note on Monday, September 9th. Finally, Truist Financial boosted their price target on ABM Industries from $49.00 to $55.00 and gave the company a “hold” rating in a research note on Monday, September 9th.

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.