Cibc World Markets Corp Makes New $303,000 Investment in ABM Industries Incorporated (NYSE:ABM)

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

Other institutional investors and hedge funds have also made changes to their positions in the company. Miracle Mile Advisors LLC purchased a new position in ABM Industries in the 4th quarter worth $392,000. Citigroup Inc. increased its holdings in shares of ABM Industries by 51.3% in the third quarter. Citigroup Inc. now owns 101,006 shares of the business services provider’s stock valued at $5,329,000 after purchasing an additional 34,254 shares during the period. Jane Street Group LLC raised its stake in shares of ABM Industries by 91.8% in the third 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. Intech Investment Management LLC lifted its holdings in shares of ABM Industries by 138.3% during the third quarter. Intech Investment Management LLC now owns 25,810 shares of the business services provider’s stock worth $1,362,000 after purchasing an additional 14,977 shares during the period. Finally, Natixis Advisors LLC purchased a new stake in ABM Industries in the third quarter valued at approximately $543,000. 91.62% of the stock is currently owned by institutional investors and hedge funds.

ABM Industries Stock Performance

NYSE ABM opened at $47.57 on Tuesday. The firm has a market capitalization of $2.96 billion, a P/E ratio of 37.46, a PEG ratio of 2.75 and a beta of 1.13. The stock has a 50-day simple moving average of $51.94 and a two-hundred day simple moving average of $52.91. 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 fifty-two week low of $42.63 and a fifty-two week high of $59.78.

ABM Industries Dividend Announcement

The business 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 dividend on an annualized basis and a yield of 2.23%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries’s payout ratio is presently 84.13%.

Insiders Place Their Bets

In related news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction 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 represents a 10.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of ABM Industries stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $52.36, for a total transaction of $224,153.16. Following the completion of the transaction, the chief accounting officer now directly owns 18,681 shares of the company’s stock, valued at $978,137.16. The trade was a 18.64 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Analyst Ratings Changes

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

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.