JPMorgan Chase & Co. Has $50.20 Million Position in ABM Industries Incorporated (NYSE:ABM)

JPMorgan Chase & Co. decreased its position in ABM Industries Incorporated (NYSE:ABM - Free Report) by 2.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 980,856 shares of the business services provider's stock after selling 26,550 shares during the quarter. JPMorgan Chase & Co. owned 1.58% of ABM Industries worth $50,200,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. American Century Companies Inc. grew its stake in shares of ABM Industries by 2,322.1% during 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 purchasing an additional 1,134,825 shares in the last quarter. Pzena Investment Management LLC raised its holdings in ABM Industries by 22.5% during the fourth quarter. Pzena Investment Management LLC now owns 850,914 shares of the business services provider's stock worth $43,550,000 after purchasing an additional 156,450 shares in the last quarter. Sei Investments Co. increased its holdings in 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 in the last quarter. Barclays PLC grew its position in shares of ABM Industries by 238.7% in the third quarter. Barclays PLC now owns 113,850 shares of the business services provider's stock valued at $6,004,000 after purchasing an additional 80,238 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of ABM Industries in the fourth quarter valued at approximately $3,502,000. Hedge funds and other institutional investors own 91.62% of the company's stock.

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ABM Industries Trading Down 1.9 %

Shares of NYSE:ABM traded down $0.88 during mid-day trading on Thursday, hitting $44.42. The stock had a trading volume of 98,181 shares, compared to its average volume of 466,966. ABM Industries Incorporated has a 12-month low of $40.85 and a 12-month high of $59.78. 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 has a market cap of $2.76 billion, a PE ratio of 34.98, a P/E/G ratio of 2.75 and a beta of 1.05. The company's 50 day moving average is $49.99 and its 200-day moving average is $52.42.

ABM Industries Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, UBS Group decreased their price target 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 Activity at ABM Industries

In related news, COO Rene Jacobsen sold 10,000 shares of ABM Industries stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $52.84, for a total transaction of $528,400.00. Following the completion of the transaction, the chief operating officer now directly owns 87,808 shares of the company's stock, valued at $4,639,774.72. This trade represents a 10.22 % decrease in their position. The sale was disclosed in a document filed 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 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 approximately $978,137.16. This represents a 18.64 % decrease in their position. The disclosure for this sale can be found here. 0.90% of the stock is currently owned by company insiders.

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.