Cibc World Markets Corp Buys New Shares in ABM Industries Incorporated (NYSE:ABM)

Cibc World Markets Corp purchased a new position in shares of ABM Industries Incorporated (NYSE:ABM - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. 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. Savant Capital LLC boosted its position in ABM Industries by 1.7% during the 4th quarter. Savant Capital LLC now owns 11,707 shares of the business services provider's stock worth $599,000 after purchasing an additional 191 shares during the period. Adirondack Trust Co. increased its holdings in ABM Industries by 28.6% during the 4th quarter. Adirondack Trust Co. now owns 900 shares of the business services provider's stock worth $46,000 after purchasing an additional 200 shares during the last quarter. Naples Global Advisors LLC raised its position in shares of ABM Industries by 2.3% in the 4th quarter. Naples Global Advisors LLC now owns 11,038 shares of the business services provider's stock valued at $565,000 after purchasing an additional 253 shares in the last quarter. CIBC Asset Management Inc boosted its stake in shares of ABM Industries by 4.8% during the 4th quarter. CIBC Asset Management Inc now owns 6,274 shares of the business services provider's stock valued at $321,000 after buying an additional 289 shares during the last quarter. Finally, Kovitz Investment Group Partners LLC grew its position in shares of ABM Industries by 3.9% during the third quarter. Kovitz Investment Group Partners LLC now owns 15,804 shares of the business services provider's stock worth $791,000 after buying an additional 588 shares in the last quarter. 91.62% of the stock is currently owned by institutional investors and hedge funds.

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ABM Industries Stock Performance

Shares of ABM Industries stock traded down $0.90 on Friday, reaching $47.28. 377,248 shares of the company were exchanged, compared to its average volume of 486,934. ABM Industries Incorporated has a 1-year low of $42.63 and a 1-year high of $59.78. The firm has a market cap of $2.94 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 2.75 and a beta of 1.13. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.33 and a current ratio of 1.33. The company's 50-day moving average is $51.51 and its two-hundred day moving average is $52.80.

ABM Industries Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, May 5th. Stockholders of record on Thursday, April 3rd will be issued a dividend of $0.265 per share. This represents a $1.06 annualized dividend and a dividend yield of 2.24%. The ex-dividend date of this dividend is Thursday, April 3rd. ABM Industries's dividend payout ratio (DPR) is 84.13%.

Analysts Set New Price Targets

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 research note on Thursday, March 13th.

Insider Buying and Selling

In related news, CAO Dean A. Chin sold 4,281 shares of the business's stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $52.36, for a total transaction of $224,153.16. Following the sale, the chief accounting officer now owns 18,681 shares of the company's stock, valued at $978,137.16. The trade was a 18.64 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $528,400.00. Following the transaction, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at approximately $4,639,774.72. The trade was a 10.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.90% of the company's stock.

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.