Arrowstreet Capital Limited Partnership Has $12.34 Million Stake in ABM Industries Incorporated (NYSE:ABM)

Arrowstreet Capital Limited Partnership decreased its holdings in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) by 17.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 241,037 shares of the business services provider's stock after selling 52,498 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.39% of ABM Industries worth $12,336,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ABM. American Century Companies Inc. increased 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 valued at $60,582,000 after buying an additional 1,134,825 shares during the period. Norges Bank acquired a new position in shares of ABM Industries in the fourth quarter valued at approximately $43,967,000. Pzena Investment Management LLC increased its stake in shares of ABM Industries by 22.5% in the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock valued at $43,550,000 after buying an additional 156,450 shares during the period. Sei Investments Co. increased its stake in shares of ABM Industries by 321.3% in the fourth quarter. Sei Investments Co. now owns 153,193 shares of the business services provider's stock valued at $7,840,000 after buying an additional 116,827 shares during the period. Finally, New Age Alpha Advisors LLC acquired a new position in shares of ABM Industries in the fourth quarter valued at approximately $5,058,000. Institutional investors and hedge funds own 91.62% of the company's stock.

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ABM Industries Trading Down 1.9 %

ABM stock traded down $0.88 during trading on Thursday, hitting $44.42. The company had a trading volume of 98,181 shares, compared to its average volume of 466,966. The business has a 50-day moving average of $49.99 and a 200-day moving average of $52.42. ABM Industries Incorporated has a one year low of $40.85 and a one year high of $59.78. The stock has a market cap of $2.76 billion, a PE ratio of 34.98, a PEG ratio of 2.75 and a beta of 1.05. 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 Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, May 5th. Investors of record on Thursday, April 3rd will be issued a $0.265 dividend. This represents a $1.06 annualized dividend and a yield of 2.39%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's payout ratio is presently 84.13%.

Insider Activity at ABM Industries

In other ABM Industries news, COO Rene Jacobsen sold 10,000 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 87,808 shares in the company, valued at approximately $4,639,774.72. This represents a 10.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dean A. Chin sold 4,281 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 18,681 shares in the company, valued at $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Separately, UBS Group lowered their price objective on ABM Industries from $56.00 to $50.00 and set a "neutral" rating for the company in a research note 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.