Short Interest in ABM Industries Incorporated (NYSE:ABM) Decreases By 21.9%

ABM Industries Incorporated (NYSE:ABM - Get Free Report) saw a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,140,000 shares, a drop of 21.9% from the March 15th total of 1,460,000 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average daily volume of 473,000 shares, the days-to-cover ratio is currently 2.4 days.

Analyst Upgrades and Downgrades

Separately, UBS Group lowered their target price on shares of ABM Industries from $56.00 to $50.00 and set a "neutral" rating on the stock in a report on Thursday, March 13th.

Insider Buying and Selling at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction on 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 $4,639,774.72. This trade represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.90% of the company's stock.

Institutional Investors Weigh In On ABM Industries

Institutional investors have recently made changes to their positions in the stock. SBI Securities Co. Ltd. acquired a new stake in shares of ABM Industries in the fourth quarter valued at about $33,000. Adirondack Trust Co. lifted its position in shares of ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock valued at $46,000 after acquiring an additional 200 shares during the period. Smartleaf Asset Management LLC boosted its stake in shares of ABM Industries by 193.2% during the 4th quarter. Smartleaf Asset Management LLC now owns 903 shares of the business services provider's stock worth $46,000 after acquiring an additional 595 shares in the last quarter. Sterling Capital Management LLC boosted its stake in shares of ABM Industries by 834.9% during the 4th quarter. Sterling Capital Management LLC now owns 2,038 shares of the business services provider's stock worth $104,000 after acquiring an additional 1,820 shares in the last quarter. Finally, Palouse Capital Management Inc. grew its holdings 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 worth $143,000 after acquiring an additional 446 shares during the period. 91.62% of the stock is currently owned by hedge funds and other institutional investors.

ABM Industries Price Performance

Shares of ABM traded up $1.12 during mid-day trading on Wednesday, hitting $48.39. The company's stock had a trading volume of 612,345 shares, compared to its average volume of 503,804. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of 0.73. ABM Industries has a 1-year low of $40.85 and a 1-year high of $59.78. The firm has a market capitalization of $3.01 billion, a P/E ratio of 38.10, a P/E/G ratio of 2.75 and a beta of 1.05. The firm has a 50-day simple moving average of $48.70 and a 200 day simple moving average of $52.09.

ABM Industries Announces Dividend

The firm also recently announced 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 2.19%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio (DPR) is currently 84.13%.

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.