ABM Industries (NYSE:ABM) Hits New 1-Year Low - What's Next?

ABM Industries Incorporated (NYSE:ABM - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $41.65 and last traded at $42.69, with a volume of 50249 shares trading hands. The stock had previously closed at $45.32.

Wall Street Analyst Weigh In

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

ABM Industries Stock Up 3.8 %

The company has a quick ratio of 1.33, a current ratio of 1.33 and a debt-to-equity ratio of 0.73. The firm has a market capitalization of $2.87 billion, a PE ratio of 36.27, a price-to-earnings-growth ratio of 2.75 and a beta of 1.05. The business's 50-day moving average price is $49.68 and its 200-day moving average price is $52.35.

ABM Industries Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be paid a $0.265 dividend. This represents a $1.06 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio (DPR) is presently 84.13%.

Insiders Place Their Bets

In related 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 sale, the chief operating officer now owns 87,808 shares in the company, valued at approximately $4,639,774.72. This trade represents a 10.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dean A. Chin sold 4,281 shares of the firm's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 18,681 shares of the company's stock, valued at approximately $978,137.16. This trade represents a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.90% of the company's stock.

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Institutional Investors Weigh In On ABM Industries

Several large investors have recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in shares of ABM Industries by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 8,198,258 shares of the business services provider's stock worth $419,587,000 after purchasing an additional 55,584 shares during the last quarter. Invesco Ltd. grew its holdings in ABM Industries by 14.8% during the 4th quarter. Invesco Ltd. now owns 1,517,516 shares of the business services provider's stock worth $77,666,000 after acquiring an additional 195,978 shares during the last quarter. Geode Capital Management LLC increased its position in ABM Industries by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 1,451,252 shares of the business services provider's stock valued at $76,582,000 after acquiring an additional 7,050 shares in the last quarter. American Century Companies Inc. raised its stake in shares of ABM Industries by 2,322.1% in the fourth quarter. American Century Companies Inc. now owns 1,183,695 shares of the business services provider's stock worth $60,582,000 after acquiring an additional 1,134,825 shares during the last quarter. Finally, Norges Bank bought a new stake in shares of ABM Industries during the fourth quarter valued at approximately $43,967,000. Institutional investors own 91.62% of the company's stock.

ABM Industries Company 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.